Apple has reported better-than-expected iPhone sales for the third quarter and anticipates further gains, driven by new AI features. Despite overall disappointing performance in China, the company has seen an improvement in iPhone sales, which fell only 0.9% compared to the predicted 2.2% drop.Shares of Apple rose nearly 1% in extended trading, outperforming other tech stocks that were broadly lower.Apple plans to launch a significant software upgrade for the iPhone this fall, featuring AI capabilities. This move comes as competitors like Samsung have already introduced similar services. Analysts expect a strong upgrade cycle for the iPhone 16 series, likely to be launched in September.Apple forecasts fourth-quarter revenue growth similar to the 4.9% increase in the April-June period, exceeding analysts' estimates.

Chief Financial Officer Luca Maestri noted that the iPhone 15 family has been performing better than the iPhone 14, leading to better-than-expected results.Sales in China, Apple's third-largest market, declined by 6.5%, an improvement from the previous quarter's 8.1% drop but worse than the expected 2.4% decline. Apple has been discounting its iPhones in China to compete with cheaper local alternatives like Huawei.Analysts expect that the AI features in the upcoming iPhone 16 series will drive consumer upgrades. CEO Tim Cook stated it was too early to determine if these features were already driving upgrades.


Apple faces three probes in the European Union related to the Digital Markets Act and antitrust accusations from the U.S. Department of Justice. The company has spent over $100 billion on R&D in the past five years to develop AI capabilities.

Quarterly Financial Performance
- Earnings Per Share**: $1.40, above Wall Street estimates of $1.35.
- Services Segment**: Sales rose 14.1% to $24.21 billion, exceeding expectations.
- Mac Sales**: Grew 2.5% to $7.01 billion, close to estimates.
- iPad Sales**: Increased 23.7% to $7.16 billion, above expectations, following new AI-focused iPad models.
- Wearables Segment**: Sales fell 2.3% to $8.10 billion but exceeded estimates.

Apple maintained its dividend at 25 cents and announced a $110 billion stock buyback in the fiscal second quarter.Apple has reported better-than-expected iPhone sales for the third quarter and anticipates further gains, driven by new AI features. Despite overall disappointing performance in China, the company has seen an improvement in iPhone sales, which fell only 0.9% compared to the predicted 2.2% drop.Shares of Apple rose nearly 1% in extended trading, outperforming other tech stocks that were broadly lower.Apple plans to launch a significant software upgrade for the iPhone this fall, featuring AI capabilities. This move comes as competitors like Samsung have already introduced similar services. Analysts expect a strong upgrade cycle for the iPhone 16 series, likely to be launched in September.


Apple forecasts fourth-quarter revenue growth similar to the 4.9% increase in the April-June period, exceeding analysts' estimates.
Chief Financial Officer Luca Maestri noted that the iPhone 15 family has been performing better than the iPhone 14, leading to better-than-expected results.Sales in China, Apple's third-largest market, declined by 6.5%, an improvement from the previous quarter's 8.1% drop but worse than the expected 2.4% decline. Apple has been discounting its iPhones in China to compete with cheaper local alternatives like Huawei.Analysts expect that the AI features in the upcoming iPhone 16 series will drive consumer upgrades. CEO Tim Cook stated it was too early to determine if these features were already driving upgrades.

Apple faces three probes in the European Union related to the Digital Markets Act and antitrust accusations from the U.S. Department of Justice. The company has spent over $100 billion on R&D in the past five years to develop AI capabilities.

Quarterly Financial Performance
- Earnings Per Share: $1.40, above Wall Street estimates of $1.35.
- Services Segment: Sales rose 14.1% to $24.21 billion, exceeding expectations.
- Mac Sales: Grew 2.5% to $7.01 billion, close to estimates.
- iPad Sales: Increased 23.7% to $7.16 billion, above expectations, following new AI-focused iPad models.
- Wearables Segment: Sales fell 2.3% to $8.10 billion but exceeded estimates.

Apple maintained its dividend at 25 cents and announced a $110 billion stock buyback in the fiscal second quarter.