Apple Forecasts Record Holiday Quarter Despite iPhone Sales Miss. Apple is gearing up for what it says could be its best quarter ever, even as iPhone sales narrowly missed expectations. CEO Tim Cook said the latest lineup — including the ultra-thin iPhone Air and upgraded iPhone 17 models — has received a "tremendous response" worldwide. The company expects holiday-season revenue to surge up to 12% from last year. Apple's overall quarterly revenue hit $102.5 billion, up 8%, but iPhone revenue slipped slightly to $49 billion, with Cook blaming supply constraints and shipping delays to China. Despite that, demand for the new models remains strong, with early sales of the iPhone 17 up 14% compared to last year's launch. Cook also noted that Trump's tariffs cost Apple $1.1 billion last quarter, with another $1.4 billion hit expected during the holidays. Still, Apple's CFO says the company is confident heading into the festive season, calling it "our most powerful lineup ever.” [Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT]