Apple Beats Earnings Expectations, Falls Short on iPhone Revenue

Key Takeaways:

* Apple (AAPL) reported strong earnings for its fiscal first quarter, exceeding analyst estimates for EPS and overall revenue.
* iPhone revenue slightly missed expectations, while Services performed in line with forecasts.
* Sales in Greater China fell below Wall Street projections, continuing a trend of decline in that region.

Financial Performance:

* EPS: $2.40 (vs. expected $2.35)
* Revenue: $124.3 billion (vs. expected $124.1 billion)
* iPhone revenue: $69.1 billion (vs. expected $71 billion)
* Services revenue: $26.3 billion (in line with expectations)
* Greater China sales: $18.5 billion (vs. expected $21.5 billion)

iPhone Market Share:

* iPhone market share fell 1% year-over-year in Q4, despite overall smartphone shipment growth.
* Apple's "Apple Intelligence" updates aim to entice consumers with new features but have yet to meet analyst expectations.

Outlook:

* Apple will continue releasing Apple Intelligence updates with enhanced capabilities.
* The company plans to launch several new products, including an entry-level iPhone SE, iPads, and MacBook Airs.
* Apple's stock has risen 24% in the past year, comparable to Google and Meta.