Apple shares fall 4% despite revenue beat in first earnings under CEO John Ternus; what's next for the iPhone maker?

Apple reported fiscal fourth-quarter revenue of $114.5 billion, up 12% year on year and above the $113.5 billion analyst estimate, while EPS of $2.10 exceeded the $2 estimate. iPhone revenue rose to $57.6 billion and Services revenue to $31.6 billion, but December-quarter gross-margin guidance of 45% to 46% was below the 46.3% consensus, with Services growth expected at 8% to 9%. Shares fell 4% to $325 following the mixed results and cautious guidance, which included revenue growth of 7% to 10%.