Apple’s iPhone Sales Surge 6% Amid AI Features and Software Update
Apple Reports 6% Increase in iPhone Sales Amid AI Integration
Apple has emerged from a recent iPhone sales slump, reporting $46.22 billion in iPhone sales for the July-September period, a 6% increase compared to last year. This marks a reversal from two consecutive declines in quarterly sales.
- Overall revenue rose 6% to $94.93 billion, exceeding analyst forecasts by approximately $400 million.
- Apple’s profit was $14.74 billion, or 97 cents per share, down 36% from the previous year, primarily due to a one-time charge of $10.2 billion related to back taxes from a European Union court ruling.
- Without this tax impact, Apple would have reported earnings of $1.64 per share, surpassing the $1.60 predicted by analysts.
Despite the positive sales figures, investor sentiment was mixed, leading to a slight drop in Apple’s stock price after the earnings announcement. The results reflect the initial days of sales for the new iPhone 16 line-up, which features advanced AI capabilities branded as “Apple Intelligence.”
- The iPhone 16’s AI features became available through a recent software update, enhancing Siri’s functionality.
- Apple plans to expand these features internationally in December, including integration with OpenAI’s ChatGPT.
While iPhone sales improved, Apple’s services division reported a 12% revenue increase to nearly $25 billion, falling short of analyst expectations by about $200 million. Additionally, revenue in China declined as competition in the smartphone market intensifies.
For further details, visit the full article on AP News.
The post Apple’s iPhone Sales Surge 6% Amid AI Features and Software Update appeared first on BizStack — Entrepreneur’s Business Stack.
Disclosure: We might receive commission on purchases made through links on this page. Learn more.
