John Ternus closed his first earnings call as Apple CEO with $114.5 billion in fiscal fourth-quarter revenue, up 12 percent year over year and ahead of consensus. Record iPhone sales and a sharp Mac jump drove the top line, yet holiday gross-margin guidance of 45-46 percent slipped below expectations on surging memory costs. Commentators noted the delivery stayed close to prepared remarks. The iPhone Duo is already selling, but the real test is whether the foldable’s higher average selling price can offset component pressure without relying solely on Services.