Apple shares gained over 2% in after-market trading following a quarter sales forecast exceeding Wall Street expectations, signaling anticipated recovery in iPhone sales driven by new AI features. CFO Kevan Parekh projected gross margins between 46.5% and 47.5%, surpassing analyst estimates. Despite slight declines in iPhone sales and challenges in the Chinese market, Apple reported total sales of $124.30 billion, just above expectations. Strong sales in iPads and Macs were attributed to new chips encouraging upgrades, positively influencing overall performance despite competition and exchange rate impacts.
"The guidance management provided on the call exceeded expectations, as the iPhone gains momentum and Apple gets past a tough quarter in China."
Collection
[
|
...
]