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.
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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.