Apple Surges on iPhone Boost, Doubles Down on AI Investments
Summary
Apple surges on a 13% increase in iPhone sales, reporting 10% revenue growth, its biggest since December 2021; CEO Tim Cook vows to 'significantly grow' AI investments, open to acquisitions accelerating its AI roadmap, while seeing a 4% sales boost in China aided by device subsidies.
Key Points
- Apple reports 10% revenue growth, its biggest since December 2021, driven by 13% growth in iPhone sales.
- Apple CEO Tim Cook says the company will 'significantly grow' its AI investments and is open to acquisitions that accelerate its AI roadmap.
- Apple sees success in China with 4% sales growth, helped by a Chinese subsidy for some devices.