Apple Sees Growth, New AI Features to Boost iPhone Sales
Apple Inc. reports a 5% revenue increase to $85.8 billion, driven by strong sales in iPads and Macs.
Apple is looking to enhance its sales with new AI features.
Apple Inc. expects new AI features to drive iPhone sales and aid recovery from a sales slump, especially in China, where they've been struggling.
CEO Tim Cook mentioned that these new features are expected to make upgrading to a new phone more appealing.
Despite challenges in China, Apple’s revenue grew by 5% to $85.8 billion for the quarter ending June 29, beating analysts' forecast of $84.5 billion.
Apple Inc. expects new AI features to drive iPhone upgrades and aid recovery from a sales slump.
Financial Performance
Revenue: $85.8 billion (up 5%)
China Sales: $14.7 billion (down 6.5%)
Earnings: $1.40 per share
Sales Forecast
September Quarter: Expected growth of about 5%
Product Sales
iPhone: $39.3 billion (slightly down but above expectations)
iPad: $7.16 billion (up 24%)
Mac: $7.01 billion (up 2.5%)
Wearables, Home, and Accessories: $8.1 billion (down 2.3%)
Apple Intelligence
AI Tools: For iPhone, iPad, and Mac
Release: October
China: Initially unavailable
Services Business
Market Outlook
Apple remains confident in long-term growth in China and is focusing on enhancing its product lineup with advanced AI features.
