John Ternus delivered his first quarterly report as Apple CEO this week, and the numbers showed continued strength in the core business even as component costs rise. Revenue hit $114.5 billion for the September quarter, topping estimates, with iPhone and Mac both contributing record or near-record results for the period. The holiday outlook remains constructive on top-line growth, but the company flagged unprecedented memory pricing that is expected to pressure gross margins into the 45-46 percent range. For a hardware-focused leader taking the reins, the debut call highlighted both the momentum from the recent product cycle and the practical realities of the supply chain heading into peak season.