Apple Reports Strong Q4 Earnings Amid China Sales Slump

Apple Inc. reported a fiscal fourth-quarter revenue of $94.9 billion, surpassing Wall Street expectations of $94.4 billion, driven by strong demand for the new iPhone 16, which generated $46.2 billion in sales. However, the company's performance in China remains a concern, with year-over-year sales declining amid fierce competition from local brands. The services division reached a record revenue of $24.97 billion, slightly below analyst predictions, while overall net income fell 36% due to a one-time charge related to a European court decision. CEO Tim Cook highlighted the rollout of Apple Intelligence features, which aim to enhance privacy and user experience, but acknowledged ongoing challenges with sales of other devices. Stock prices dipped over 1% in after-hours trading due to these mixed results and the lack of guidance for the upcoming holiday quarter. Investors are keenly awaiting insights from the upcoming conference call, which will address expectations for the fiscal first quarter and further details on the AI features.