Apple sales fall less than expected, CEO sees return to growth [Globe and Mail, The (Toronto, Canada)]
Apple Inc. (AAPL)
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Source: Globe and Mail, The
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 said fiscal second-quarter revenue fell 4% to $90.8 billion, beating the average analyst estimate of $90.01 billion, according to LSEG data. 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 App Store and was one of the few areas of growth in the fiscal second quarter, is under pressure from a new law in Europe. In the Uni
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