Apple Q4 2024 Financial Results and AI Focus

Apple reported a record fourth-quarter revenue of $94.93 billion, marking a 6% increase from the previous year, driven largely by its services segment and new AI features in the iPhone 16. Despite beating Wall Street expectations, Apple's forecast for the upcoming quarter remains muted due to delays in AI feature rollouts and limited availability in key markets, such as China. Earnings per share were adjusted to $1.64, reflecting a 12% increase, excluding a one-time $10.2 billion legal charge. While iPhone sales grew 5.5% to $46.22 billion, the AI enhancements, branded as Apple Intelligence, have not yet fully driven anticipated demand. Apple's services sector, including the App Store and Apple Music, reached a record $24.9 billion in revenue. The company remains focused on expanding its AI capabilities and product ecosystem to maintain its competitive edge.