Apple stock rises to new highs as CEO Cook calls for best holiday season ever

Apple is on its way to setting records.

Apple (AAPL) shares rose more than 3% in extended trading Thursday, surpassing recent highs after the iPhone maker reported earnings that beat analyst estimates and CEO Tim Cook provided an upbeat forecast for the holiday season.

Apple reported fiscal fourth-quarter earnings per share of $1.85 on revenue that rose 8% year over year to $102.47 billion. Both numbers came ahead of analyst estimates compiled by Visible Alpha, as Apple’s services revenue rose to a record $28.75 billion.

Growth in Apple’s iPhone sales also helped it achieve better-than-expected results, after the company launched the iPhone 17 lineup in September. iPhone sales rose 6% to $49.03 billion in the fourth quarter, contributing the majority of Apple’s product revenue.

The figure also marks a record September quarter revenue for the iPhone, with CEO Tim Cook indicating that could mean a record holiday season ahead.

“We expect December quarter revenue to be the best ever for the company and the best ever for the iPhone,” Cook said on the company’s earnings call Thursday, forecasting revenue growth of 10% to 12%. Analysts had expected 6%.

Apple shares are up about 8% for 2025 through Thursday’s close. This week’s gains boosted Apple’s market value to more than $4 trillion, making it the world’s second-largest company behind artificial intelligence chip maker Nvidia (NVDA).