Apple CEO Tim Cook predicts record revenue for the December quarter, driven by strong iPhone 17 sales.

Apple reported fourth quarter earnings on Thursday that aligned with analyst expectations on revenue and slightly missed on iPhone sales, providing an early glimpse into how the release of the iPhone 17 lineup may be catching on so far.

Apple Inc.’s iPhone Air went on sale in China on Wednesday, eliciting a subdued consumer response in the world’s biggest smartphone arena.

Despite that, Apple stock rose more than 3% following the report on upbeat guidance from CEO Tim Cook who told CNBC he believes the company will see double-digit iPhone revenue growth in the December quarter.

Apple (AAPL) announced fourth quarter earnings on Thursday that beat on the top and bottom lines but fell just short of analysts' expectations on iPhone sales and revenue out of China. CEO Tim Cook offered an upbeat forecast on the the company's earnings call,

Fierce competition and supply constraints lead to a sales decline, but Apple’s boss says demand for newest iPhone series will spur a rebound.

According to a report from the South China Morning Post, the iPhone Air “sold out within minutes of its launch in China” earlier today. The report explains that “minutes after” pre-orders began on Friday morning, the iPhone Air was sold out “at all bricks-and-mortar stores in Beijing and Shanghai, as well as in cities like Tianjin.”

Chinese startup Noetix Robotics has developed a humanoid robot priced lower than an iPhone by redesigning its components, structure, and production chain from the ground up.

For the quarter, Apple is expected to report earnings per share of $1.77 on revenue of $102.1 billion, according to Bloomberg consensus estimates. That's up from the $1.64 and $94.9 billion the company saw last year.

Apple shares rise 2% as record iPhone 17 demand drives upbeat holiday-quarter forecast despite China weakness and lingering AI concerns.