Apple's revenue hits a historic high, strong recovery in the Chinese market.

Apple's revenue during the holiday season far exceeded Wall Street's expectations, thanks to strong demand for the new iPhone 17, growth in services business, and recovery in the Chinese market. The company's financial report showed that in the quarter ending December 27th, revenue increased by 16% to reach $143.8 billion, setting a new record. Analysts had an average expectation of $138.4 billion, while Apple's own forecast was a growth of 10% to 12%. The strong performance of the iPhone 17 drove a 23% year-on-year growth in smartphone business revenue. Sales in the Chinese market grew by 38% compared to the previous year. In addition, Apple's net profit for the quarter was $42 billion, far exceeding expectations. Apple CEO Tim Cook praised it as an "extraordinary, record-breaking quarter", attributing it to the "unprecedented demand for the iPhone, with each geographical region setting historic highs". Looking ahead, the company's chief financial officer expects revenue for the March quarter to increase by 13% to 16%, with operating expenses between $18.4 billion and $18.7 billion.