- Tim Cook stated that Apple expects memory costs to continue to increase into the next quarter and beyond.
- This was Tim Cook’s final earnings call before John Ternus succeeds him.
- Tim Cook expressed gratitude to shareholders and analysts during his final earnings call.
- Cook noted that John Ternus will lead future earnings calls.
In his final earnings call, Tim Cook highlighted a robust performance in iPhone sales, with revenue reaching $54.25 billion, a remarkable 22% increase.1234
Despite this success, Apple faced challenges in its services sector, where revenue declined, disappointing analysts.
Overall, Apple reported $109.42 billion in revenue for the quarter.
Cook expressed gratitude to shareholders and analysts, stating, "I just wanted to take a moment to say thank you to all of you from our shareholders, particularly our long-term shareholders, who have put their trust in us for so many years..."
He acknowledged that this would be his last earnings call, with John Ternus set to take over leadership in future calls.
Looking ahead, Cook warned that memory costs are expected to rise, which could impact future earnings.
As Apple transitions to new leadership, the company remains focused on navigating these challenges while capitalizing on its strong iPhone sales.
“During his last earnings call, Tim Cook expressed gratitude to shareholders and analysts, stating, '> I just wanted to take a moment to say thank you to all of you.' He also noted that John Ternus will lead future earnings calls, marking a significant leadership transition for Apple.”
Ars Technica
