Apple: 3 Key Takeaways for Long-Term Investors

Apple reported record September quarter revenue of $114.5 billion (up 12% YoY) with an all-time high installed device base of 2.5 billion units. However, rising memory chip costs are pressuring gross margins, forcing price increases on Mac and iPad products. The company expects December quarter revenue to grow 7-10% despite supply chain constraints from semiconductor manufacturing capacity limitations. Apple projects this will be its best revenue quarter ever.