AAPL Stock Valuation Reflects Strong Growth Prospects Amid Supply Constraints

Apple's (AAPL) revenue continues to soar, reaching a record $109.4 billion in the third quarter, up 16% year-over-year.

The company's strong financial growth is driven by continued strength across its ecosystem, despite supply constraints and an uncertain macroeconomic environment.

The Products business was the biggest contributor, with revenue reaching $78.7 billion in Q3, a 18% YOY increase, driven by strong iPhone and Mac sales.

iPhone revenue came in at $54.3 billion, up 22% from the same quarter last year, setting a new June-quarter record.