Apple shares jump 3% on strongest quarterly growth in four years
Apple posted its strongest quarterly sales growth in over four years, lifting shares 3% in premarket trading ahead of John Ternus’s September CEO succession. iPhone 17 Pro and low-cost MacBook Neo drove revenue despite memory chip shortages, and a 14%–17% growth forecast topped estimates.
1. Record Quarterly Sales
Apple’s March quarter revenue grew at its fastest pace in more than four years, sending shares up 3% in premarket trading. Gross margins exceeded expectations as a favorable product mix and disciplined pricing offset rising memory costs.
2. Product Drivers
The iPhone 17 Pro series delivered robust unit sales, while the newly introduced low-cost MacBook Neo attracted budget-conscious buyers amid subdued industry demand. Limited supply of advanced processors constrained capacity but underscored Apple’s bargaining power with TSMC and other suppliers.
3. Forecast and Leadership Transition
Management projected 14%–17% revenue growth for the April–June quarter, surpassing consensus estimates and reinforcing momentum ahead of the annual developer conference. Hardware chief John Ternus will assume the CEO role in September, with Tim Cook moving to executive chairman to focus on strategic initiatives including AI development.