In its latest earnings report, Apple reported a substantial 12% growth in profit, driven by robust iPhone and services sales, marking a record revenue of $114.5 billion in the September quarter. However, the company warned of an unprecedented rise in memory chip prices and costs associated with AI, which are expected to squeeze holiday margins. Despite beating Wall Street forecasts, Apple shares slid in premarket trading due to concerns over future earnings and slowing growth, particularly in the services sector. New CEO John Ternus highlighted the successes but also acknowledged challenges, drawing attention to a significant inventory surge and the impact of component pricing on the overall financial landscape.