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News
Friday, October 31, 2025
What’s happening: Shares of Apple rose sharply in after-hours trading on Thursday, following the release of the company’s fiscal fourth-quarter results.
What happened: The iPhone maker posted better-than-expected sales and earnings for the latest quarter.
Apple also issued strong guidance for iPhone sales and total revenues for the holiday quarter, which sent the stock to fresh highs.
How were the results: The Cupertino, California-based company reported single-digit sales growth for the fourth quarter.
Why it matters: The tech giant has a strong history of beating market expectations and has now topped estimates on both top- and bottom-lines in 11 consecutive quarters.
Although continued supply constraints and delays in shipment of the latest phones to China resulted in Apple missing iPhone sales expectations in the quarter, strength in other areas helped the company surpass market estimates.
Sales in the Americas came in at $44.19 billion, Europe sales were $28.7 billion. Sales in Greater China were approximately $14.49 billion and Japan sales were $6.64 billion.
Product revenue surged to $73.72 billion, from $69.96 billion in the year-ago quarter, while Services revenue climbed to $28.75 billion, from $24.97 billion.
iPhone sales surged to $49.03 billion but came in short of market estimates of $50.19 billion. iPad sales rose slightly to $6.952 billion.
Apple also said that its active installed base of devices had surged to new record highs in all product categories and geographies.
“Today, Apple is very proud to report a September quarter revenue record of $102.5 billion, including a September quarter revenue record for iPhone and an all-time revenue record for Services,” CEO Tim Cook said.
Apple guided to double-digit growth in iPhone sales and 10%-12% growth in total revenues in the holiday quarter.
How shares responded: Apple’s shares jumped 2.3% to $277.75 in after-hours trading on Thursday following the release of quarterly results. The stock has risen around 28% over the past six months.
What to watch: Investors will keep an eye on the new iPhone Air and iPhone Pro models, which are expected to provide a significant boost to the company’s overall sales in the final quarter of the year.
Context: The JPY/USD forex pair gained this morning as investors assessed the latest economic data.
Details: Data released this morning showed Japan’s industrial production surged 2.2% in September, recovering from a 1.5% decline in August. The figure also topped market estimates of 1.5%. The latest reading signalled the first growth in industrial output since June. It was also the fastest pace since February, following a rebound in some major industries.
Japan’s retail sales surged 0.5% year-over-year in September, recovering from a 0.9% decline in the previous month.
Weakness in the greenback also lent support to the JPY/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, fell 0.1% to 99.49 this morning.
The JPY/USD forex pair gained around 0.2% to 153.84 this morning, while the Nikkei 225 added 0.99% to trade at 51,833.94.
What to watch: Investors await the release of economic data on average cash earnings, S&P Global composite PMI and S&P Global services PMI from Japan next week. Japan’s nominal wages, which grew by 1.5% year-over-year in August, are expected to rise by 1.6% in September.
Analysts expect the S&P Global Japan composite PMI to decline to 50.9 in October from a final reading of 51.3 in the previous month, while services PMI are projected to fall to 52.4 in October from 53.3 in September.
Other Markets: European indices closed mostly lower on Thursday, with the DAX 40, CAC 40 and STOXX Europe 600 Index down by 0.02%, 0.53% and 0.10%, respectively, and the FTSE 100 up by 0.04%.
Russia’s senator Vladimir Dzhabarov said that US President Donald Trump should engage with his country for peace talks rather than announcing sanctions. The news sent the RUB/USD pair lower in forex trading this morning.
China’s official NBS manufacturing PMI fell to 49.0 in October, from 49.8 in the previous month. The latest reading missing market estimates of 49.6 exerted pressure on the CNY/USD forex pair.
South Korea’s industrial production fell 1.2% in September, following 2.2% growth in August, which sent the KRW/USD pair lower in forex trading this morning.
The European Central Bank kept interest rates unchanged for the third straight meeting, lending support to the EUR/USD forex pair.
Chile’s retail sales surged 6.2% year-over-year in September, after 5.2% growth in the previous month. However, the CLP/USD pair edged lower in forex trading this morning.
Spain’s tourist arrivals (1200 UAE Time) and current account (1300 UAE Time), Turkey’s tourist arrivals (1200 UAE Time) and MPC meeting summary (1500 UAE Time), Eurozone’s inflation rate (1400 UAE Time) and CPI (1400 UAE Time), Italy’s inflation rate (1400 UAE Time), India’s government budget value (1430 UAE Time), bank loan growth (1530 UAE Time), deposit growth (1530 UAE Time) and foreign exchange reserves (1530 UAE Time), South Africa’s 2033 ILB auction (1430 UAE Time), 2046 ILB auction (1430 UAE Time) and 2050 ILB auction (1430 UAE Time), Brazil’s gross debt to GDP (1530 UAE Time), nominal budget balance (1530 UAE Time) and unemployment rate (1600 UAE Time), South Africa’s balance of trade (1600 UAE Time), Canada’s GDP (1630 UAE Time) and budget balance (1900 UAE Time), as well as US Chicago PMI (1745 UAE Time), Baker Hughes oil rig count (2100 UAE Time) and Baker Hughes total rigs count (2100 UAE Time).
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