Apple shares rose 3.14% after Wall Street forecasted higher-than-expected quarterly sales, with projections reaching $95.3 billion. Although Apple’s fiscal first quarter profits exceeded estimates, iPhone sales during the holiday quarter and revenue from China fell short due to intense competition and AI developments. Notably, iPhone revenue was reported at $69.14 billion, below expectations. Despite challenges, sales of iPads and Macs exceeded projections, driven by new chips encouraging upgrades. CEO Tim Cook highlighted that AI features are enhancing performance, with improvements set to roll out in new languages. While increasing scrutiny on AI integration persists, Apple’s robust service sector and wearable sales, totaling $11.75 billion, provide momentum amid struggles in iPhone sales in China.
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