#AppleQ3EarningsInFocus

$AAPL Q3 Earnings In Focus - Beat On All Lines With iPhone Leading

$AAPL fiscal Q3 2025 ended June 28 delivered a clear beat, with top line, profit and margin all ahead of Street view.

Core Prints - Verified
• Total revenue: 94.04 billion USD, up 10% year over year, vs 85.78 billion a year ago, vs expected 89.22 billion, 88.64 billion and 85.78 billion in various consensus, beat near 4.8 billion.
• Diluted EPS: 1.57 USD, up 12% year over year, vs 1.40 USD a year ago, vs consensus 1.43 USD.
• Net income: 23.43 billion USD, up from 21.45 billion a year ago, profit 23.42 to 23.43 billion range.
• Gross margin: 46.5%, up from 46.3% a year ago.
• Dividend: 0.26 USD per share quarterly.
• iPhone revenue: 44.58 billion USD, up from 39.3 billion, +13.5%, driving most of beat.
Split of quarter: Products revenue 73.72 billion USD and Services revenue 28.75 billion USD in calendar view for later quarter with revenue 102.5 billion USD vs 101.6 billion expected, operating profit 32.43 billion USD vs 31.68 billion expected, EPS 1.85 USD vs 1.77 USD expected, also beating.

What Drove Beat
1. iPhone strength. 44.58 billion USD iPhone sales show upgrade cycle held, with double digit growth in key markets. This offset softness in iPad and other categories noted in earlier reviews.
2. Services resilience. Services kept mid teen growth with high margin, helping lift total margin to 46.5%. Recurring income from App Store, iCloud, Music and Pay smooths hardware swings.
3. Margin control. Gross margin up 20 bps year over year despite cost pressure, showing supply chain and mix gain. $AAPL you gave: 344.63 USD, intraday high 349.19, low 334.35, prior close 348.91, 52 week range 243.42 to 351.73. After Q3 print, stock saw after hours rally, but also saw pull toward 200 in prior cycle when beat was met with cautious guide, showing market wants both beat and guide up.

Support 334.35 low and 243.42 yearly low, with 300 as mental level. Resistance 349.19 high and 351.73 top. Break over 351.73 opens new high hunt.

What To Watch For Next Quarter
• iPhone 17 demand trend and mix toward Pro models.
• Services growth and margin, as it now drives over one third of gross profit.
• AI features rollout and its pull on device refresh.
• Gross margin guide, as 46.5% is near high end.

$AAPL beat was not low quality. It was top line beat plus EPS beat plus margin up. For long term, hold above 334.35 low keeps up trend intact. For short term, wait for daily close above 349.19 high to add, with stop below 334.35. If price slips below 334.35 with volume, next support is 300 mental level.

Q3 shows $AAPL can still grow double digits even at massive scale, with iPhone as driver and Services as shield.

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