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Tom’s Guide
Tom’s Guide
Technology
Scott Younker

'We reluctantly raised prices': Tim Cook weighs in on hikes as Apple reports $109 billion in revenue

Apple CEO Tim Cook.

Apple held its third-quarter earnings call today, where the tech giant reported "record" $109 billion earnings, largely driven by a 22% increase in iPhone sales. Despite that, Apple's stock fell 8% based on missed revenue estimates in China and the company's services arm.

Outgoing CEO Tim Cook, in his swan song earnings call, was also questioned by investors about the impact of the ongoing memory crisis on Apple supply and future forecasts.

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