11/15/2023 0 Comments Dropshared![]() ![]() Cook said the installed base of iPhones hit a new high but gave no numbers. “We also set quarterly records in China for both wearables, home and accessories, and services.”Īmazon shares jump on strong earnings, sees Prime Day sales boosting Q3Īpple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. “This was really done by attracting a quarterly record of switchers to the iPhone, as well as having a strong upgrader activity,” Cook said. That helped Apple push sales in its greater China region to $15.76 billion, from $14.60 billion in last year’s same quarter. Apple Chief Executive Tim Cook said the increased R&D spending was in part driven by work on generative artificial intelligence Getty Images By contrast, Cook told Reuters that Apple’s iPhone sales in China grew by “double digits” and that sales were also high in other segments in China. Overall smartphone sales declined 8% in China in the calendar second quarter to their lowest levels since 2014, according to Counterpoint Research. ![]() In the meantime, Apple appeared to outperform what has been the weakest smartphone market in China in almost a decade. One such feature, he said, will be the iPhone’s ability to transcribe voice mail messages in real time, starting this autumn. While Big Tech rivals including Microsoft and Alphabet’s Google are spending billions on dueling chatbots and other AI technologies, Cook said that AI would show up in Apple products as new features. “Obviously, we’re investing a lot, and it is showing up in the R&D spending that you’re looking at.” We’re going to continue investing and innovating and responsibly advancing our products with these technologies to help enrich people’s lives,” Cook said. “We’ve been doing research across a wide range of AI technologies, including generative AI, for years. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data.Īpple pegged the gross profit margin in the September quarter at 44% to 45%, while analysts on average expected 43.4%, according to Refinitiv data.Īpple’s research and development spending also hit $22.61 billion for the fiscal year so far, about $3.12 billion higher than at this point in the previous year.Īpple testing AI tools, including ‘Apple GPT,’ to rival ChatGPT: reportĪpple Chief Executive Officer Tim Cook told Reuters in an interview that the increased R&D spending was in part driven by work on generative artificial intelligence, the same field that is driving spending at other big technology companies. REUTERSĪpple Chief Financial Officer Luca Maestri said the company expects a year-over-year revenue performance in the company’s fiscal fourth quarter ending in September similar to the drop the company reported on Thursday. iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion. Weaker iPhone sales were balanced by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. ![]() That topped analyst expectations of $81.69 billion and $1.19 per share, according to IBES data from Refinitiv. Executives said iPhone sales would improve but did not say how much.Īpple is in a delicate position, with its entrenched iPhone battling for share against Android rivals in a mature market, while its next big product – the Vision Pro mixed-reality headset announced in June – is not yet in the hands of consumers.Īpple said sales for the fiscal third quarter ended July 1 fell 1.4% to $81.8 billion and earnings per share rose 5% to $1.26. Strength in services drove the profit beat in the third quarter, but weaker than expected sales of Apple’s most famous device, the iPhone, underwhelmed investors. Snag a 2023 MacBook Air at its lowest price ever today on AmazonĪpple forecast a sales slump would continue into the current quarter, sending shares down despite beating Wall Street sales and profit targets in the fiscal third quarter.Īpple shares dropped about 2% after the mixed results and outlook. ‘Pokémon Sleep’ video game could ‘make money off insomniacs’: expert ![]() This hidden iPhone feature ‘literally saved lives’ in deadly Maui fires The Apple Magic Keyboard is $50 off - its lowest price ever on Amazon ![]()
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