Apple Reports Record Quarterly Revenue Under Tim Cook; Future Growth Depends on New CEO John Ternus
Tim Cook's final earnings call as Apple's CEO highlighted the company’s significant growth since he took over in August 2011. In fiscal Q3, Apple reported quarterly revenue of $109.4 billion — surpassing its total sales for all of fiscal 2011 and driven largely by a 22% increase in iPhone sales to $54.3 billion. Under new CEO John Ternus, the company faces challenges as it continues relying heavily on the iPhone business (about half of revenue) while also needing innovation beyond this core product. Recent attempts like Apple's self-driving car and VisionPro have not succeeded commercially. However, early reports suggest that Ternus is prioritizing faster product releases and a leaner organizational structure. Apple’s stock has outperformed the S&P 500 over the past decade but currently trades at an expensive valuation with a P/E ratio of 38 — higher than both its historical median and broader market benchmarks. Investors will be watching closely for new products to justify this premium.
Tickers: $AAPL
Topics: Apple iPhone sales John Ternus revenue growth Tim Cook