iPhone sales declined for the second consecutive quarter, with a nearly 1% drop for the quarter ending in June. Apple's overall revenue increased by 5%, surpassing Wall Street expectations. The tech giant aims to boost sales with new AI features set to launch in the fall, targeting upgrades to the iPhone 15 Pro. Revenue in Greater China fell over 6%, partly due to competition from Huawei. Apple's services unit saw a 14% increase. Investors remain optimistic, anticipating that Apple's AI strategy will drive future growth. Apple introduced Apple Intelligence at its June developer conference, a system integrating generative AI into its OS and enhancing Siri, with advanced features supported by partners like OpenAI's ChatGPT.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:03iPhone sales declined for the second consecutive quarter, with a nearly 1% drop for the quarter
00:07ending in June.
00:09Apple's overall revenue increased by 5%, surpassing Wall Street expectations.
00:13The tech giant aims to boost sales with new AI features set to launch in the fall, targeting
00:18upgrades to the iPhone 15 Pro.
00:20Revenue in Greater China fell over 6%, partly due to competition from Huawei.
00:25Apple Services Unit saw a 14% increase.
00:29Investors remain optimistic, anticipating that Apple's AI strategy will drive future
00:33growth.
00:34Apple introduced Apple Intelligence at its June developer conference, a system integrating
00:38generative AI into its OS and enhancing Siri, with advanced features supported by partners
00:43like OpenAI's ChatGPT.
00:45For all things money, visit Benzinga.com.