Apple beats sales and profit expectations but AI costs weigh on holiday sales

Economic Times TechNovember 3, 2026en

Apple exceeded analysts' expectations for its latest results on Monday when the iPhone-maker said it notched a "revenue record" for the July-September quarter, driven by iPhone sales and services revenue, but increased costs related to AI will drag down margins. This includes primarily the impact of higher memory costs, as well as some costs related to the ramp of Siri AI," Parekh said.

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