Apple’s iPhone sales soared to a new quarterly record during the holiday season, despite artificial intelligence blunders that prompted the technology trendsetter to get a helping hand from Google.
The October-December results announced Thursday reflect the allegiance of Apple’s fans, who eagerly snapped up the latest iPhone 17 models even though the company still hasn’t delivered on its 2024 promise to smarten up the device’s Siri assistance with AI.
Apple tried to offset its AI miscues with a new “liquid glass” design for the iPhone 17 adn older models installed by way of a free software upgrade released last September. That formula helped produce iPhone sales of $85.3 billion,a 23% increase from the same time in the previous year. It marked Apple’s highest iPhone sales for a three-month period since the device’s debut in 2007.
“The demand for iPhone was simply staggering,” Apple CEO Tim Cook crowed during a conference call with analyst while predicting the device will become a cutting-edge platform for AI.
The iPhone’s robust performance propelled Apple to a profit of $42.1 billion,or $2.84 per share for the quarter, a 16% increase from the previous year.Total revenue also rose 16% from the previous year to $143.8 billion. Both the earnings and sales exceeded the analyst projections that steer investors.
Apple’s shares rose by about 1% in extended trading after the numbers came out. But the stock price still remains slightly down so far this year, and isn’t that much higher from where it finished at the end of 2024.
Zacks Investment Research analyst Et
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