Apple reported third-quarter earnings that exceeded Wall Street estimates, driven by strong iPhone sales and a resilient services division. The company posted revenue of $85.8 billion, up 5% year-over-year, with a record $22.6 billion in services revenue. CEO Tim Cook highlighted growing demand in emerging markets and continued investment in AI capabilities.
Meanwhile, semiconductor firm Marvell Technology announced an $80 billion acquisition of a major chip designer, reshaping the competitive landscape. The deal, expected to close in late 2025, aims to bolster Marvell's position in data center and networking chips. CFOs across industries are navigating midterm uncertainty amid shifting trade policies and fluctuating inflation data.
The Federal Reserve signaled a potential pause in rate hikes, offering some relief to corporate borrowers. Analysts caution that geopolitical tensions and supply chain disruptions remain key risks heading into the final quarter.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing