Tim Cook Reveals Apple Set Record For iPhone Upgraders In September: 'We're Constrained Today On Several Models…'
On Thursday, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook said the company set a record for iPhone upgrades in September, noting that demand for its latest iPhone 17 lineup is so strong that several models remain constrained.
Strongest iPhone Lineup Yet
During Apple’s fourth-quarter earnings call on Thursday, Cook attributed the iPhone 17’s success to what he called the company’s strongest lineup ever.
“The [iPhone] 17 Pro is the most pro phone we’ve ever done,” he said, adding that the iPhone 17 Air “feels so thin” and “light in your hand … like it’s going to fly away.”
He also said that the standard iPhone 17 now includes features that were once exclusive to the Pro series, making it a standout value for consumers.
“It’s all about the product,” Cook said, stressing that the design and performance are resonating globally.
Earlier this month, it was reported that Cupertino is significantly reducing production of its iPhone Air model while ramping up output for other flagship iPhone 17 variants to meet surging demand.
The iPhone Air, once projected to make up 10–15% of new iPhone production this year, will see orders slashed to under 10% of September’s output starting in November.
China Market Shows Signs Of Recovery
When asked about Apple’s performance in China, Cook said he visited the region and described the market as “vibrant and dynamic.”
“Store traffic is up significantly year over year,” he said, adding that the iPhone 17 family has been “very well received.”
Cook noted that Apple expects to return to growth in China in the first quarter of fiscal 2026, driven by strong iPhone demand. “I couldn’t be more pleased with how things are going there,” he said.
Apple’s Record Upgraders, Tight Supply
Apple also saw a surge in upgrades from existing users. “We did set a September record for upgraders. And so it was a great quarter from that point of view,” Cook said, though he noted it’s too early to assess trends among customers switching from rival brands.
As for inventory, Cook said Apple ended the quarter toward the low end of its targeted range, adding that the company continues to face supply constraints on several iPhone 17 models.
“We’re constrained today on several models of the iPhone 17. There’s not a ramp issue. It’s just we have very strong demand and we’re working very hard to fulfill all the orders that we have,” he said.
Apple Tops Q4 Estimates With 8% Revenue Growth
Apple posted fiscal fourth-quarter revenue of $102.47 billion, surpassing analyst expectations of $102.17 billion.
Earnings came in at $1.85 per share, also topping estimates of $1.76. iPhone revenue rose to $49.02 billion, up from $46.22 billion a year earlier.
Overall, total revenue increased 8% year over year, while earnings per share jumped 13%.
According to Benzinga’s Edge Stock Rankings, AAPL continues to show a strong trend across short, mid and long-term time frames. Check out the full performance breakdown here.
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