Apple sales fall less than expected, CEO sees return to growth [Yahoo! Finance Canada]
Apple Inc. (AAPL)
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Source: Yahoo! Finance Canada
revenue, and Chief Executive Tim Cook told Reuters the company expects a return to sales growth in the current quarter as it invests in AI features to be unveiled in the coming months. Shares of Apple rose almost 3% in extended trade after the report. Apple's stock has fallen 10% so far in 2024, underperforming the S&P 500's 6% rise. Apple said fiscal second-quarter revenue fell 4% to $90.8 billion, beating the average analyst estimate of $90.01 billion, according to LSEG data. ADVERTISEMENT For Apple's current quarter, which ends in June, Cook told Reuters the iPhone maker expects "to grow low-single digits" in overall revenue. Wall Street expects 1.33% revenue growth to $82.89 billion, according to LSEG data. Apple faces a raft of challenges across its business. Smartphone rivals such as Samsung Electronics have introduced competing devices aimed at hosting artificial-intelligence chatbots. On the regulatory front, Apple's services business, which contains its lucrative
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