Apple earnings, DHS shutdown, 'Ozempic breath' and more in Morning Squawk
Apple's shares rose over 3% after the company surpassed Q2 earnings and revenue expectations, despite iPhone sales missing targets for the second time in three quarters. Revenue from iPhones still grew 22% year-over-year, and the company provided stronger-than-expected guidance for the current quarter. CEO Tim Cook highlighted supply constraints and warned of rising memory costs impacting future operations, a concern echoed by Meta and Microsoft.
- ▪Apple exceeded Q2 earnings and revenue expectations.
- ▪iPhone revenue grew 22% year-over-year despite sales below forecast.
- ▪Tim Cook warned of increasing impact from global memory cost rises.
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Apple shares are more than 3% higher this morning after the company exceeded analysts' second-quarter expectations for earnings and revenue. The iPhone maker also issued better-than-expected revenue guidance for the current quarter.Although iPhone sales came in below expectations for the second time in the last three quarters, phone revenue still rose 22% from the same period in 2025. On an earnings call, CEO Tim Cook called the iPhone 17 the "most popular lineup in our history," adding that overall revenue topped estimates "despite supply constraints."Cook, who Apple recently announced would hand over the reins to John Ternus in September, also issued a warning about the global memory crunch: "We believe memory costs will drive an increasing impact on our business," he told analysts…
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