Apple's holiday quarter earnings revealed record revenue of $124.3 billion, a 4% increase from last year, driven by strong performance across various divisions. However, the company experienced a slight decline in iPhone revenue, raising questions about the impact of its new AI features on upgrades. CEO Tim Cook defended these features, noting stronger sales in regions where Apple Intelligence was introduced. The quarter is significant as it underscores consumer demand during the holiday season and the prolonged availability of the iPhone 16 lineup, even as wearables revenue slightly dropped.
Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up four percent from a year ago.
During the December quarter, we saw that in markets where we had rolled out Apple intelligence, that the year-over-year performance on the iPhone 16 family was stronger.
This tends to be Apple's most crucial quarter of the year for two reasons: it includes the all-important holiday shopping season and the iPhone 16 lineup was on sale.
Revenue for Apple's wearables business, which includes the Apple Watch and AirPods, was also slightly down compared to the year-ago quarter.
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