Apple's iPhone sales drop due to problems with adding AI features.
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Apple's iPhone sales dipped slightly during the holiday season. This was not a big surprise as the new AI features were released late in the quarter and are not available in many countries yet.
Apple's overall revenue grew modestly, but still exceeded analyst expectations. The company earned $36.3 billion in profit, a 7% increase from the previous year.
iPhone sales in China declined by 11% as local competitors gained market share. However, analysts believe Apple's brand and AI innovations will keep demand steady in the long run.
The initial excitement about AI boosting iPhone sales has faded as the impact may take longer to materialize. Apple's stock price, which surged last year on AI hopes, has retreated slightly in recent weeks.
Apple's services division, which includes the App Store and Apple Music, continues to grow strongly. However, this division relies heavily on a deal with Google that is facing antitrust scrutiny.
Questions
Did Apple's iPhone sales go up or down during the holiday season?
Apple's iPhone sales dipped slightly during the holiday season.
How much profit did Apple earn?
Apple earned $36.3 billion in profit, a 7% increase from the previous year.
What is affecting Apple's services division?
Apple's services division relies heavily on a deal with Google that is facing antitrust scrutiny.
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