Apple’s fiscal third-quarter iPhone revenue hit $54.25 billion, surging nearly 22% and beating Wall Street forecasts. Behind the headline number, independent shipment data reveals the company also delivered standout unit growth and higher average selling prices—proving the iPhone business is performing even better than the official figures suggest.

James Brumley for The Motley Fool:
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According to IDC, Apple was only one of two major names in the smartphone business to defy the overall 6.7% year-over-year decline in total smartphone shipments during the second calendar quarter of this year. The other one was Samsung, which experienced an 8.1% year-over-year increase in total unit shipments. Apple handily outpaced that growth rate, though, with its 15.3% year-over-year improvement in iPhone shipments, again as reported by IDC.

There are a couple of important takeaways for investors quietly buried in this data. The first is that, while the company itself didn’t report it, the relative changes in reported revenue and unit shipments indicate that Apple is asking — and getting — a higher average selling price (ASP) for its current slate of iPhones. And not for the first time.

This is the second quarter in a row that IDC reported Apple had defied a broad drop in demand for smartphones by achieving the industry’s highest year-over-year increase in unit shipments, which again was also outpaced by Apple’s reported iPhone revenue growth (of nearly 22% in the previously reported quarter).

Connect the dots. After a slow start, the demand for newer iPhones that the launch of Apple Intelligence was supposed to generate back in 2025 is finally taking hold.

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MacDailyNews Take: Al of this, just before Apple is set to unveil the next generation of its indomitable iPhone!

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The post Apple’s Q3 iPhone sales crush expectations — and even better than they seem appeared first on MacDailyNews.

SpaceX shares dropped on Wednesday after Elon Musk’s plans for blockbuster spending to position his AI and rocket company as a data center developer spooked investors.

SpaceX surpassed analysts’ expectations in Tuesday’s debut earnings report, posting quarterly revenues of $7.8 billion, well above analysts’ estimates of $6.82 billion and up 92 percent from a year earlier. It posted a net loss of about $541 million, better than estimates of $2.12 billion.

But shares in SpaceX fell 10 percent in early trading after it reported capital expenditure of almost $16 billion on AI, double the previous quarter and well above Wall Street’s expectations. It said spending would persist at current levels for at least two more quarters.

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