Apple reported strong September-quarter results, with revenue up 8% to $102 billion and gross margin at 47.2%. December guidance predicts double-digit revenue growth and further margin expansion. iPhone revenue guidance exceeded expectations, driven by the iPhone 17 family. Services revenue rose 15%, with continued momentum expected. Profitability remains strong despite tariff costs. Fair value estimate raised to $240 per share. Expect growth in iPhone and services revenue, with margins moving upward due to high-margin services and pricing power in premium models.

Read more at Morningstar: Apple Earnings: Strong Performance Overpowers Headwinds, and We Raise Our FVE