Apple Intelligence's 'Transformative' Capabilities Excite Tim Cook Even As iPhone Revenue Declines 1% Year-Over-Year
Portfolio Pulse from Ananya Gairola
Apple Inc. (NASDAQ:AAPL) reported a 1% decline in iPhone revenue year-over-year, but CEO Tim Cook highlighted the company's overall growth and the introduction of Apple Intelligence, which is expected to drive future sales. Despite the revenue dip, Apple's third-quarter earnings exceeded expectations, with total revenue rising by 4.9% to $85.78 billion.
August 02, 2024 | 10:30 am
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Apple reported a 1% decline in iPhone revenue but exceeded overall Q3 earnings expectations. CEO Tim Cook emphasized the potential of Apple Intelligence to drive future sales.
Despite a slight decline in iPhone revenue, Apple's overall Q3 earnings exceeded expectations, which is a positive indicator for the stock. The introduction of Apple Intelligence is expected to drive future sales, particularly with the iPhone 15 Pro models, adding to the stock's potential upside.
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