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Apple Inc (NASDAQ:AAPL) stock hit new all-time highs after the company beat analyst estimates for revenue and earnings per share in the fourth quarter. While the quarterly results set several company records, CEO Tim Cook said more records are coming in the next fiscal quarter.
Strong iPhone 17 sales helped Apple beat analyst estimates in the fourth quarter, despite limited initial demand for the new smartphone factoring into the results, given the launch date of Sept. 19.
Cook highlighted the strength of the quarter during the company's conference call, while also guiding for the first quarter to set several new company records.
"We are incredibly excited about the strength we're seeing across our products and services, and we expect the December quarter's revenue to be the best ever for the company and the best ever for iPhone," Cook said.
Cook highlighted the company's lineup that includes the iPhone 17, an updated Apple Watch, AirPods Pro 3 and other new devices.
On the iPhone 17, Cook said the smartphone "has had a tremendous response from our users around the world."
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Apple Chief Financial Officer Kevin Parekh helped quantify what Cook meant when he said the first quarter could set records.
"From today we expect our December quarter total company revenue to grow by 10% to 12% year-over-year, which would be our best quarter ever," Parekh said.
Apple reported revenue of $124.30 billion in last year's first quarter, a new company record at the time. The estimated 10% to 12% growth would make this year's first quarter revenue total $136.73 billion to $139.22 billion.
Analysts currently estimate Apple’s first-quarter revenue at $132.31 billion, according to Benzinga Pro.
Parekh said the first quarter would also be "our best iPhone quarter ever," with iPhone revenue expected to grow "double digits" year over year.
iPhone revenue was $69.14 billion in last year's first quarter. Based on a 10% growth rate, the total would hit $76.06 billion or more in this year's first quarter.
For comparison, Apple just reported fourth-quarter iPhone revenue of $49.02 billion.
Apple's fourth quarter results marked the 11th straight quarter the company has posted a double beat, with revenue and earnings per share both coming in ahead of analyst estimates.
Fourth-quarter results included a fourth-quarter revenue record, a fourth-quarter iPhone revenue record, and an all-time record for Services revenue.
Based on comments from Apple executives, the company's first quarter could see multiple records fall once again.
Apple shares traded at $271.56 on Friday. The stock hit a new all-time high of $277.32 during Friday's trading session. Apple shares are up 11.3% year-to-date in 2025.
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Posted In: AAPL
