"Apple's revenue of $111.2 billion marks its best March quarter ever, with a 17% year-over-year increase and a net profit of $29.6 billion, showcasing strong iPhone 17 demand."
"Tim Cook emphasized that Apple's contrarian AI strategy, which involves partnerships with OpenAI and Google, allows the company to benefit from AI without incurring the high infrastructure costs faced by competitors."
Apple reported a record revenue of $111.2 billion for the March quarter, a 17% increase year-over-year, with net profits of $29.6 billion. iPhone sales reached $58 billion, driven by high demand for the iPhone 17. Growth in Greater China was notable at 28%, contributing $20.5 billion. Services revenue also hit a record of $31 billion. Despite these successes, Tim Cook warned of rising memory costs affecting future margins. Apple's strategy of partnering with AI firms instead of building its own model contrasts with competitors' heavy investments in AI infrastructure.
Read at TNW | Apple
Unable to calculate read time
Collection
[
|
...
]