Apple’s fourth-quarter earnings report contains nothing shocking, but mostly affirms that things remain on track. Revenue, earnings and iPhone sales all came in ahead of consensus forecasts. Apple’s guidance for the all-important holiday quarter ahead seems square in the middle of the range Wall Street was looking for, with revenue of $75.5-$77.5 billion on gross margins of 39-40 percent. The margin target seems especially well within reach as margins typically trend up with products moving deeper into their lifecycle. Only the new iPad Pro and Apple TV have yet to be released — neither of which is expected to contribute meaningful revenue in the short term.

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