New Delhi, Nov. 3 -- AAPL) beat fiscal fourth-quarter sales expectations, but investors sold the shares after the company forecast lower holiday-quarter profit margins. Rising memory-chip costs and spending on Siri AI clouded John Ternus's first earnings report as chief executive, despite record September-quarter revenue.

Apple reported $114.5 billion in revenue for the three months ended September 26, up 12% from a year earlier, and diluted earnings of $2.10 a share, up 14%. The figures were released on Monday, November 2.

The results and the outlook pointed in different directions. Revenue exceeded the $113.4 billion Wall Street target reported by Fortune, but the holiday gross-margin forecast was 45% to 46%, below the 47.9% Apple rec...