Apple Inc reported a strong financial performance for the June quarter, with a profit of $21.4 billion on revenue of $85.8 billion, marking a new record for the period and a 5% increase from the previous year. CEO Tim Cook expressed enthusiasm for the company's upcoming AI-powered tools, collectively known as Apple Intelligence, which are expected to drive user engagement and device sales.
In China, a critical market for Apple, sales continued to decline, dropping 7% from the previous year. This decline, though concerning, was less severe than in the previous quarter. Despite these challenges, Apple maintains a strong financial position, with quarterly earnings per share at $1.40, above Wall Street estimates. Sales in other segments, including the Mac and iPad, showed growth, while the wearables segment saw a slight decline.
