Apple Proves AI Doesn’t Matter
Apple's quarterly revenue rose 17% to $111.2 billion, with iPhone revenue increasing from $46.7 billion to $57 billion year over year. The company did not attribute its strong sales to AI, and instead focused on its installed base of active devices and financial forecasts.
Apple reported a quarterly revenue increase of 17% to $111.2 billion, driven by strong iPhone sales. iPhone revenue rose from $46.7 billion to $57 billion year over year, with revenue in 'Greater China' increasing from $16 billion to $20.5 billion. The company's CFO, Kevan Parekh, attributed the success to continued strong customer demand and a new all-time high for Apple's installed base of active devices. Apple did not mention AI as a contributing factor to its strong sales. The company is integrating Google's Gemini AI into its Intelligence features, including Siri, for a $1 billion annual fee. Apple's market cap is $4 trillion, ranking behind Nvidia and Alphabet.
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