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Apple Holiday Results Top Estimates on Rebounding iPhone Demand

  • Shares at a record after more than doubling in past year
  • Sales of AirPods surge, creating big new product category
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Photographer: Chris Ratcliffe/Bloomberg
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Apple Inc. shares jumped to a record high Wednesday after reporting holiday-quarter revenue that beat Wall Street expectations on rebounding iPhone demand and surging sales of wearable devices.

The results are a remarkable comeback from a year ago, when the most valuable technology company missed its own targets. A sales forecast for the current quarter also exceeded analysts’ projections, while services revenue came in slightly below expectations.