John Ternus delivered his first quarterly report as Apple CEO this week, and the numbers were strong on the top line. Revenue hit $114.5 billion, up 12 percent, with iPhone sales climbing 17 percent. Yet the stock dipped as Apple guided gross margins lower for the holiday quarter, citing unprecedented memory-chip prices. Ternus also confirmed the iPhone Duo remains constrained, with no clear timeline for catching up to demand. The debut earnings call felt scripted to some observers, but the product pipeline is already busy heading into November.