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Apple reports record revenues despite stagnant iPhone sales
CEO Tim Cook spent much of the earnings call hyping Apple Intelligence.
Despite that growth, a couple of key things investors were concerned about—overall iPhone sales and revenue in China—slipped downward, and Apple's stock fell slightly in after-hours trading. Revenue in China fell to $14.7 billion, down 6.3 percent from a year ago, as Apple faces fierce competition from Huawei and other smartphone companies. Cook spent the majority of his time speaking during the earnings call hyping Apple Intelligence, the suite of generative AI features coming in iOS 18.1 this fall.
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