SAN FRANCISCO (AP) - Apple on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company's effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.
Apple’s iPhone sales during the holiday season slipped despite a highly anticipated AI rollout
SAN FRANCISCO (AP) - Apple on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company's effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.
The iPhone's roughly 1% drop in revenue from the previous year's October-December period wasn't entirely unexpected, given the first software update enabling the device's AI features didn't arrive until just before Halloween, and the technology still isn't available in many markets outside the U.S.
The countries still awaiting Apple's AI suite include China, a key market where the company continued to lose ground.
Apple also was only able to eke out a modest revenue gain across its entire business, although the results came in ahead of the analyst projections that guide investors. The Cupertino, California, company earned $36.3 billion, or $2.40 per share, a 7% increase from the previous year. Revenue edged up from the previous year by 4% to $124.3 billion.