Apple IPad Decline Was Expected Ahead of Redo: Power On
Apple reported better than anticipated Q2 earnings results, with the iPhone declining about $5 billion on an annual basis, in addition to the same for overall revenue but the device actually growing in mainland China, according to CEO Tim Cook. The iPad also declined, but that was to be expected given that the device had not been updated since the end of 2022. And that new versions of the iPad Pro in iPad Air are coming next week. Services in the Mac were bright spots on Apple’s earnings report. Bringing in growth to the iPhone maker compared to the year ago quarter, one negative was the wearables, home and accessories category that fell about $800 million. Leuko Maya St. the company’s CFO, said this was due to a tough compare from a year ago when the Apple Watch Ultra and the second generation Airpods Pro saw strong sales in the second quarter of last year. Analysts and Apple executives were all very clearly excited about the prospect of Apple moving into generative AI. Apple plans to announce a slew of new AI features at its Worldwide Developers Conference. On June 10th for Bloomberg News, I’m Mark Berman.