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<p>Apple's new CEO faces his first earnings test after today's close — and the test isn't demand.

Analysts expect $113.4 billion in revenue, up about 11%, with iPhone sales near $56.5 billion, up about 15%.

But profit growth is expected to slow to its weakest pace in six quarters — because memory-chip costs are rising, squeezing margins to 47–48% from 50.1%.

The catch: the quarter holds only nine days of new iPhone 18 Pro sales. The real verdict comes with the holiday-quarter outlook.

Strong sales, thinner margins. Tonight's report is about what Apple keeps, not just what it sells.</p>

Apple's new CEO faces his first earnings test after today's close — and the test isn't demand.
Analysts expect $113.4 billion in revenue, up about 11%, with iPhone sales near $56.5 billion, up about 15%.
But profit growth is expected to slow to its weakest pace in six quarters — because memory-chip costs are rising, squeezing margins to 47–48% from 50.1%.
The catch: the quarter holds only nine days of new iPhone 18 Pro sales. The real verdict comes with the holiday-quarter outlook.
Strong sales,

Apple's new CEO faces his first earnings test after today's close — and the test isn't demand. Analysts expect $113.4 billion in revenue, up about 11%, with iPhone sales near $56.5 billion, up about 15%. But profit growth is expected to slow to its weakest pace in six quarters — because memory-chip costs are rising, squeezing margins to 47–48% from 50.1%. The catch: the quarter holds only nine days of new iPhone 18 Pro sales. The real verdict comes with the holiday-quarter outlook. Strong sales, thinner margins. Tonight's report is about what Apple keeps, not just what it sells.

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