iPhone 12

Apple reported quarterly results that beat estimates on strong iPhone sales but missed on China revenue, with profit up 12 percent. Analysts flagged narrowing margins that overshadowed an upbeat holiday forecast, and stocks were set for a lower open after the earnings disappointed investors. Alongside the results, Apple announced its first touchscreen MacBook Pro, reversing a years-long stance, plus a new smart home accessory line developed with LG and Schneider.