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Apple's fiscal fourth-quarter earnings exceeded expectations, driven by strong iPhone demand, particularly for the iPhone 16. Tim Cook highlighted that the adoption rate of iOS 18.1, featuring Apple Intelligence, was twice that of its predecessor. However, revenue from China fell short of estimates, contributing to a 2% drop in Apple's stock after the earnings call.
Despite challenges in the Chinese market, overall iPhone revenue grew by 6% year-over-year, reaching $46.2 billion. Cook expressed optimism about the upcoming holiday quarter, anticipating low to mid-single-digit sales growth, while emphasizing the importance of Apple Intelligence features in driving consumer upgrades. The company is also set to launch additional AI features in December, which could further enhance user experience.
• iOS 18.1 adoption rate is twice that of iOS 17.1.
• Apple Intelligence features are crucial for driving iPhone upgrades.
Apple Intelligence refers to a set of AI features designed to enhance user experience and drive device upgrades.
1 is the latest operating system version that includes Apple Intelligence features, adopted rapidly by users.
AI features in Apple products are designed to improve functionality and user engagement, as highlighted by Cook.
Apple is a leading technology company that integrates AI into its products, enhancing user experience through features like Apple Intelligence.
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