💨 Abstract

Apple beat quarterly profit estimates but saw weak iPhone sales and China revenue due to stiff competition, slow AI rollout, and macroeconomic weakness. Stronger-than-expected iPad and Mac sales boosted overall performance. Weak China sales are expected to persist due to delayed AI features and competition. AI features, called Apple Intelligence, are driving new device sales but have not been released in China yet.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖