August 1, news — Apple's latest financial report highlights that despite the looming specter of Trump's trade war, the company's quarterly revenue significantly surpassed expectations. During the third fiscal quarter, Apple's revenue surged approximately 10% year-over-year to reach $94 billion, surpassing the market consensus of $89.3 billion. iPhone sales witnessed a robust 13.5% year-over-year growth, amounting to $44.6 billion.

Despite the erosion of about $700 billion in market value due to Trump's trade policies, Apple's Chief Financial Officer, Kevan Parekh, emphasized that the iPhone, Mac, and services sectors served as the primary growth engines for this quarter. Furthermore, the company's quarterly gross margin stood at 46.5%, exceeding the anticipated 46%. Revenue in Greater China registered a 4% year-over-year increase, amounting to $15.4 billion, marking a reversal of the previous downward trend.

Parekh noted that a portion of the annual growth, roughly one percentage point, was attributed to customers placing orders in advance to mitigate the impact of potential US tariffs.