Apple Inc

AAPL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Apple Earnings: Strong Performance Overpowers Headwinds, and We Raise Our Valuation by 14% to $240

William Kerwin

Oct 31, 2025

Apple's September-quarter results were strong, with revenue rising 8% year over year to $102 billion and gross margin expanding 100 basis points year over year to 47.2%. December guidance was even better, with double-digit revenue growth expected, as well as further gross margin expansion.

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Apple Inc

Apple Earnings: Strong Performance Overpowers Headwinds, and We Raise Our Valuation by 14% to $240

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