""Continued strong customer demand for our products and services once again helped us achieve a new all-time high for our installed base of active devices across all major product categories and geographic segments.""
""Apple disappointed Wall St. and some customers last year when it did not launch a major AI-based product. It is not in a rush to do that this year either.""
Apple reported a 17% increase in revenue to $111.2 billion and a 22% rise in EPS to $2.01. iPhone revenue grew significantly from $46.7 billion to $57 billion year over year, with notable performance in Greater China. Despite strong sales, Apple did not emphasize the impact of AI on iPhone sales or the integration of Google's Gemini into Siri. The company plans to invest $1 billion annually for this integration, while also facing high component costs that could affect margins.
Read at 24/7 Wall St.
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