Apple reported very strong demand for its flagship iPhone 17 and the new MacBook Neo on Thursday, helping the company deliver an impressive sales forecast.
Following the announcement, Apple’s shares rose nearly 4% in after-hours trading, reflecting investor confidence in the company’s performance.
Apple said strong customer demand for its latest devices, especially the iPhone 17 and MacBook Neo, is helping offset ongoing challenges such as global chip shortages, supply chain pressures, and rising memory chip costs.
The company also reported steady growth in its services business and strong sales performance in China, further supporting its positive outlook.
Despite these gains, Apple warned that chip supply constraints remain a challenge and could continue affecting production.
To strengthen investor confidence, Apple also announced a new $100 billion share buyback program.
This move comes as investors closely watch Apple’s leadership transition and its ability to remain competitive in the rapidly growing artificial intelligence sector.
Company executives said they expect sales growth of 14% to 17% in the current fiscal third quarter, significantly above Wall Street expectations of 9.5% growth.
The strong forecast suggests Apple is successfully navigating industry challenges while maintaining solid consumer demand and market strength.