Apple posted a sales increase for the all-important holiday quarter, ending a recent slump that had been one of the company’s worst earnings streaks in more than two decades. On Thursday, Apple reported revenue of about $120 billion, up 2.1% from the October-to-December period a year earlier, and net income of $34 billion, up 13%. Both of those figures exceeded analyst expectations, according to FactSet. Apple’s crucial iPhone business grew nearly 6% from the same year-ago quarter, with $69.7 billion in sales versus the $67.6 billion analysts had projected. Apple said it has surpassed 2.2 billion active devices for its products. “This is obviously the engine for the company and for the future,” Chief Financial Officer Luca Maestri said in an interview. Shares fell by about 3% in after-hours trading. Apple’s results underscored the strong performance this earnings season of the largest technology companies, especially among those that are infusing

In possibly the first public confirmation, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook has said that the company plans to appeal the ban on its Apple Watch, rather than settle with Masimo Corp. (NASDAQ:MASI). What Happened: Despite the ongoing patent dispute with Masimo, Apple continues to sell its Apple Watch Series 9 and Ultra 2 in the U.S., albeit with the contested blood oxygen feature disabled. In the interview with CNBC, which followed the release of Apple’s fiscal Q1 2024 earnings, Cook said that the company has no intention of licensing Masimo’s technology to resolve the issue, reported AppleInsider. “We’re focused on appeal,” said Cook in a statement, according to the report. “There’s lots of reasons to buy the watch even without the blood oxygen sensor.”

Apple Inc.’s (NASDAQ:AAPL) first-generation mixed-reality headset, Vision Pro, is set to release on Friday. While the headset has created a stir in the tech landscape, many are concerned about its high price point. Now Tim Cook has defended the same during the company’s first quarter 2024 earnings call. What Happened: During the call, Cook was asked by Wamsi Mohan from Bank of America, considering that Vision Pro has a much higher price point, is there a way Apple plans to measure the success of the headset and which “Apple products’ adoption curve would you look at as potentially the most similar.” In response, the Apple CEO said that every product follows its unique path and he wouldn’t prefer to draw comparisons with any specific one. “We’ll see and report the results of it in the Wearables category that you’re familiar with.” Cook said, “I think that if you look at it from a price point of view, there’s

The following is a summary of the Apple Inc. (AAPL) Q1 2024 Earnings Call Transcript: Financial Performance: Apple reported a Q1 revenue of $119.6 billion, up 2% year over year, with an EPS of $2.18, a 16% increase compared to the previous year. Record services revenue was achieved, increasing 11% year-over-year to $23.1 billion. Mac’s and iPhone’s revenue increased by 1% and 6% respectively, while iPad’s revenue declined by 25% due to difficult year-over-year comparisons. Gross margin was at 45.9%, up by 70 basis points, and the net income was $33.9 billion, an increase of $3.9 billion from last year. Operating cash flow came in strong at $39.9 billion, and shareholders saw a return of nearly $27 billion. Business Progress: Apple saw strong growth in many emerging markets, setting all-time revenue records in over two dozen countries. A new device, Apple Vision Pro, will soon be available in stores with