BUSINESSFORTUNE
Tim Cook’s last quarter as Apple CEO: record iPhone sales, stock still falls
Apple reported a strong fiscal third quarter with record iPhone sales and revenue growth, but its stock fell in after-hours trading. Tim Cook, Apple's CEO, announced his retirement and will be succeeded by John Ternus in September. The company cited a memory-chip shortage linked to the AI boom as a challenge and expects potential iPhone price increases later this year.
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Adjacent reporting
- Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
- Strong iPhone sales propel Apple's fiscal Q3 results past Wall Street's expectations
- Apple soars past Wall Street expectations as CEO Tim Cook prepares to step down
- Tim Cook will step down as Apple CEO and hand reins over to the iPhone maker’s hardware leader
- Apple hails 'extraordinary' iPhone demand as boss Tim Cook heads out
- Tim Cook’s last earnings call comes at momentous time for Apple with stock at record