Apple revenue, profits beat expectations on iPhone, Mac sales

Apple reported third-quarter revenue and profits that exceeded expectations, driven by strong growth in iPhone and Mac sales. Despite a global memory shortage affecting device manufacturers, iPhone sales surged 22 percent to $54.25 billion, while Mac sales rose 29 percent to $10.35 billion. This growth occurred even as Apple implemented price increases across its Mac and iPad lineups, demonstrating resilient demand for its hardware products amidst challenging supply chain conditions for RAM components.