Apple Sales Trounce Estimates After iPhone Fuels Record Quarter

Watch on YouTube ↗  |  January 29, 2026 at 22:43  |  5:04  |  Bloomberg Markets
Speakers
Mark Gurman — Chief Correspondent, Bloomberg News

Summary

Apple reported record holiday-quarter revenue and a blowout iPhone quarter, with strong iPhone 17 demand, a rebound in Greater China, and services roughly meeting expectations. Mark Gurman said the results buy Apple time despite unresolved AI strategy questions and memory-cost concerns. He also discussed Apple's reliance on Google for AI models, failed Anthropic talks, and a small acquisition tied to facial-movement technology.

  • Apple beat revenue estimates with a record $143.8 billion quarter.
  • iPhone revenue reached about $85 billion on strong iPhone 17 demand.
  • Greater China revenue rebounded to $25.53 billion, beating estimates.
  • Services barely beat while wearables, home and Mac missed.
  • Mark Gurman said Apple still needs a long-term AI strategy.
  • Apple mitigated rising memory prices through advance purchases and supplier deals.
  • Apple is relying on Google for AI models after Anthropic pricing talks failed.
  • Apple acquired an Israeli facial-movement startup for future wearables and XR features.
Ideas
Mark Gurman Chief Correspondent, Bloomberg News 0:03
Record iPhone quarter outweighs AI concerns.
Apple delivered a record holiday quarter with revenue of $143.8 billion, beating estimates, as iPhone revenue reached about $85 billion on unprecedented iPhone 17 demand, China rebounded to $25.53 billion versus estimates, and the installed base reached 2.5 billion. Mark Gurman said the quarter was a home run that buys Apple time despite unresolved AI strategy questions, and Apple's advance memory-component purchases and supplier deals protected margins from rising memory prices while giving it pricing power over competitors.
AAPL HIGH
Mark Gurman Chief Correspondent, Bloomberg News 3:13
Google is Apple's remaining AI partner.
Apple has no internal AI model and must rely on partners. Mark Gurman said Apple is partnering with Google for AI models because Google offers the best pricing power; Anthropic talks failed on price and OpenAI is a hardcore competitor, while the judge did not break up the search deal. That leaves Google as the remaining logical partner, and the arrangement aligns nicely for Google.
GOOG MED
Up Next
2:54
Investors showing a 'more discerning pallet', says Schwab's Liz Ann Sonders
CNBC · Jan 29
38:10
반도체 주가 랠리 '절반은 지났다' 언제까지 오를 수 있나? | 하나증권 리서치센터 기업분석실 김록호 수석연구위원 [글로벌 인터뷰]
3PRO TV (삼프로TV) · Jan 29
10:29
Nasdaq Falls on Big Tech Weakness | Closing Bell
Bloomberg Markets · Jan 29
4:07
Apple Earnings: iPhone 17 Demand Surges, Revenue Up 16%
Bloomberg Markets · Jan 29
7:33
Siri Co-Founder Says Apple Is in 'Pretty Good Position'
Bloomberg Markets · Jan 29

This Bloomberg Markets video, published January 29, 2026, features Mark Gurman discussing AAPL, GOOG. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mark Gurman  · Tickers: AAPL, GOOG