DeFi Daily News
Monday, June 2, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Markets Stock Market

Apple prepares for significant AI push as sales rebound gains momentum

Staff Correspondent by Staff Correspondent
August 2, 2024
in Stock Market
0 0
0
Apple prepares for significant AI push as sales rebound gains momentum
0
SHARES
1
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article

Apple Inc. (NASDAQ: AAPL) returned to sales growth in the June quarter, helped by a rebound in iPad sales and continued strong performance by the services business. While revenues and earnings topped expectations, there was a modest decrease in the sales of iPhone which remains the company’s biggest revenue source. Currently, the gadget giant’s investments are focused on developing its artificial intelligence platform called Apple Intelligence.

Apple’s shares traded higher during Friday’s session, reflecting the post-earning upswing in investor sentiment. The stock’s performance has been excellent this year, gaining about 33% in the past four months alone.   

Innovation

The Apple leadership said it is on track to start shipping the Apple Intelligence service later this fall. The latest quarterly results reflect the company’s aggressive investments in the AI platform. Following the strategy of enhancing user experience through innovation, the company is extending the Tap-to-Pay facility on iPhone to more markets. In the third quarter, it opened the first-ever retail location in Malaysia, expanding further into emerging markets.

Apple plans to continue investing in Apple Intelligence, which is designed to transform the way users interact with features like Writing Tools and Image Playground. The company is also integrating ChatGPT into iPhone, Mac, and iPad, enabling users to draw on a broad base of world knowledge.

Results Beat

In Q3, a 1% drop in iPhone sales, which account for nearly 50% of total revenues, was more than offset by a 24% surge in iPad sales — reversing the recent trend — and a 14% increase in services revenue. Total sales rose 5% year-over-year to $85.8 billion and beat estimates. Net income was $21.45 billion or $1.40 per share in the third quarter, compared to $19.88 billion or $1.26 per share in the prior-year period. Analysts were looking for slower bottom-line growth. Apple ended the quarter with an impressive $25.6 billion in cash and cash equivalents.

Commenting on the Q3 report, Apple’s CEO Tim Cook said at the earnings call, “We are a company in relentless pursuit of big ideas. Time and again, we’ve seen how a spark of creativity can reach breakthrough velocity, reach across previously unexplored dimensions, and ultimately take flight in ways that can change the world. It’s why we’re going to keep investing in the meaningful innovation that enriches the lives of all of our customers. We have a busy time ahead of us, and I couldn’t be more excited for all the amazing things yet to come.”

Sales Trend

Meanwhile, Apple continues to face challenges in China where sales dropped 7% year-over-year in the June quarter, while demand grew in all other markets. The company said its installed base of active devices reached record highs across all geographical regions and product categories. Buoyed by the impressive Q3 outcome, the management forecasts continued strong revenue and earnings growth for the current quarter that ends in September 2024.

Apple’s stock traded up 2% on Friday afternoon. In mid-July, the stock reached an all-time high of $234.82, before paring a part of those gains in the following weeks. It continues to be one of the best-performing Wall Street stocks.

DeFi Daily News

Conclusion

As Apple’s sale recovery gains momentum and the company braces for a major push into artificial intelligence, investors are keeping a close eye on the tech giant’s performance. With the recent innovations in the AI platform and a strong focus on enhancing user experience, Apple is poised for further growth and success in the coming quarters.

Despite facing challenges in certain markets like China, Apple’s consistent drive for innovation and commitment to delivering groundbreaking technology sets it apart in the industry. The positive reception to the recent quarterly results and the stock’s impressive performance reflect investor confidence in Apple’s future prospects.

Looking ahead, Apple’s continued investments in Apple Intelligence and expansion into new markets signal a promising future for the company. With CEO Tim Cook emphasizing the importance of meaningful innovation in enriching customer experiences, Apple is well-positioned to lead the way in technology and AI advancements.

Overall, Apple’s journey towards integrating artificial intelligence into its products and services marks a significant milestone in the company’s evolution. As the tech landscape continues to evolve, Apple’s focus on AI and user experience will likely drive its growth and success in the years to come.



Source link

Tags: AppleGainsMomentumPreparesPushReboundSalesSignificant
ShareTweetShare
Previous Post

Secret Service update on attempted Trump assassination attempt security failures | LiveNOW from FOX

Next Post

Bloomberg Real Yield 08/02/2024

Next Post
Bloomberg Real Yield 08/02/2024

Bloomberg Real Yield 08/02/2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

May 6, 2025
Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

August 13, 2024
rewrite this title What Are Energy-Efficient Windows? Cost, Certification and How to Choose – NerdWallet

rewrite this title What Are Energy-Efficient Windows? Cost, Certification and How to Choose – NerdWallet

April 1, 2025
5 Crypto Experts Predict: Bitcoin is About To EXPLODE Just Like Gold!

5 Crypto Experts Predict: Bitcoin is About To EXPLODE Just Like Gold!

May 3, 2025
Tech companies are interested in nuclear power, but some utilities are blocking their progress.

Tech companies are interested in nuclear power, but some utilities are blocking their progress.

August 10, 2024
Why iPhones May Get More Expensive Amid Trump Tariffs

Why iPhones May Get More Expensive Amid Trump Tariffs

April 11, 2025
rewrite this title Ethereum Signals Uptrend With Key Candlestick Pattern, Could A Rally Follow? | Bitcoinist.com

rewrite this title Ethereum Signals Uptrend With Key Candlestick Pattern, Could A Rally Follow? | Bitcoinist.com

June 2, 2025
rewrite this title with good SEO Reitar Logtech Announces .5 Billion Bitcoin Acquisition Plan

rewrite this title with good SEO Reitar Logtech Announces $1.5 Billion Bitcoin Acquisition Plan

June 2, 2025
rewrite this title KeyBank Taps Personetics to Give Customers Insights into Spending – Finovate

rewrite this title KeyBank Taps Personetics to Give Customers Insights into Spending – Finovate

June 2, 2025
My Husband Lied About Being ,000,000 In Debt (That I Know Of)

My Husband Lied About Being $1,000,000 In Debt (That I Know Of)

June 2, 2025
rewrite this title How to Move Across the Country Cheaply – NerdWallet

rewrite this title How to Move Across the Country Cheaply – NerdWallet

June 2, 2025
rewrite this title and make it good for SEOThe best balance transfer credit cards for 2025: Don’t pay any interest until 2026

rewrite this title and make it good for SEOThe best balance transfer credit cards for 2025: Don’t pay any interest until 2026

June 2, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.