United Kingdom, Oct. 31 -- Apple is heading into the holiday season with what CEO Tim Cook called its "most powerful lineup ever," as iPhone 17 demand fuels expectations for a blockbuster quarter.

The company reported $102.5 billion in revenue for the fourth fiscal quarter, up eight per cent year-over-year and slightly ahead of Wall Street expectations.

However, iPhone sales came in just below forecasts at $49 billion, with Cook attributing the shortfall to supply constraints on several iPhone 17 models and shipping delays in China.

Despite the temporary hiccup, Apple expects a 12 per cent year-over-year increase in overall revenue during the December quarter - which would mark its best quarter ever, according to Chief Financial Office...