Apple’s iPhone Sales Slide but Investors Still Expect AI Rally according to WSJ report. Apple’s quarterly profits exceeded expectations despite a decline in iPhone sales. CNBC reports that Apple sales have risen by 5%, thanks to increased revenue from iPads and services. Despite the decline in iPhone sales, Apple has beaten Q3 expectations and reported strong earnings according to Yahoo Finance. Additionally, Nasdaq reports on after-hours earnings for various companies including Apple, Amazon, and Intel among others.
Apple’s decline in iPhone sales did not deter investors who are anticipating a rally in AI for the tech giant. The profitability of the company was highlighted by CNBC, showing a 5% increase in sales driven by the success of iPads and services. Despite the iPhone sales decline, Apple’s quarterly profits surpassed expectations according to Barron’s, showcasing the resilience of the company in the face of changing market trends. The after-hours earnings report from Nasdaq also underscored Apple’s strong performance in a challenging environment.
Overall, Apple’s financial performance is a mix of highs and lows, with a decline in iPhone sales balanced out by strong revenue from other products and services. Investors are optimistic about the future of Apple, with a focus on AI technology propelling the company forward. The earnings report for Q3 of 2024 showcases Apple’s ability to adapt and thrive in a competitive market, setting a positive tone for the future of the tech giant.
