""The demand for iPhone was simply staggering," Apple CEO Tim Cook crowed during a conference call with analyst while predicting the device will become a cutting-edge platform for AI.The iPhone's robust performance propelled Apple to a profit of $42.1 billion, or $2.84 per share for the quarter, a 16% increase from the previous year. Total revenue also rose 16% from the previous year to $143.8 billion. Both the earnings and sales exceeded the analyst projections that steer investors."
"But the stock price still remains slightly down so far this year, and isn't that much higher from where it finished at the end of 2024.Zacks Investment Research analyst Ethan Feller said the worries about Apple's late start in AI appeared to have been overblown and now appears well positioned to roll out more of the technology "as a feature that scales naturally across its ecosystem," which also includes iPads, Mac computers and smartwatches in addition to iPhones."
iPhone sales reached a quarterly record in October–December, driven by strong demand for iPhone 17 models despite earlier artificial intelligence missteps and reliance on Google assistance. A new "liquid glass" design and a free software upgrade helped drive iPhone revenue to $85.3 billion, a 23% year-over-year increase—the highest three-month iPhone sales since 2007. Net profit rose to $42.1 billion, and total revenue climbed to $143.8 billion, each up 16% and surpassing analyst expectations. Shares rose about 1% in after-hours trading, though the stock remains slightly down year-to-date. Analysts view Apple as well positioned to scale AI across its ecosystem.
Read at Fast Company
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