Apple's Earnings Beat, AI Excitement, App Store Crackdown, And More: This Week In Appleverse

Author: Benzinga Neuro | August 04, 2024 09:26am

The past week was a whirlwind for Apple Inc. (NASDAQ:AAPL), with a mix of highs and lows. From exceeding Q3 earnings expectations to a slight dip in China’s revenue, the tech giant made headlines. Let’s delve into the key stories that shaped Apple’s week.

Apple’s Q3 Earnings Surpass Expectations
Apple’s Q3 earnings report, released on Thursday, surpassed market expectations. The company’s revenue grew year-over-year, with all product categories contributing to the strong performance. However, the company’s shares fell by 1.08% to $216 in after-hours trading, largely due to modest performances in China and the Mac sector. Read the full article here.

Tim Cook Enthused by Apple Intelligence’s ‘Transformative’ Capabilities
Despite a 1% year-over-year decline in iPhone revenue, CEO Tim Cook expressed excitement over the company’s innovations. He highlighted the transformative potential of Apple Intelligence in unlocking new ways of working and learning. Read the full article here.

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Apple Tightens Grip on Tencent and ByteDance Over App Store Fees
Apple has ramped up efforts to ensure Tencent Holdings Ltd. and ByteDance Ltd. comply with its 30% commission policy. The company has demanded that these firms close loopholes that allow in-app creators to bypass Apple’s commission. Read the full article here.

Apple Patents Novel Camera System for Vehicles
Despite shelving its Apple Car project earlier this year, Apple has patented a unique camera system for vehicles. The system uses cameras instead of rearview mirrors to capture external surroundings and projects the feed onto the car’s windshield. Read the full article here.

First iPhone 16 Models to Miss Out on AI Features
Apple’s first iPhone 16 models may not include the new AI features, requiring a software update weeks later. The company plans to introduce Apple Intelligence to customers as part of software updates by October. Read the full article here.

This story was generated using Benzinga Neuro and edited by Rounak Jain

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