Quick hits: September 2024

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Apple has released its latest financial results, showing unexpectedly robust performance for the tech giant. iPhone sales experienced a slight decline, totaling $39.3 billion, down 1 percent compared to the same period last year. However, the company reported increased revenue from services and other business segments, hinting that its focus on artificial intelligence (AI) could boost future iPhone sales.

Notably, the iPad is experiencing a significant resurgence. Sales of the tablet increased by nearly 24 percent, reaching $7.16 billion, surpassing analysts’ expectations. This surge followed the launch of the new iPad Pro and a larger iPad Air in May. The product line had seen minimal updates over the past two years, but the recent refresh appears to have revitalized consumer interest.

As with many recent releases, the iPad launch emphasized artificial intelligence—specifically, Apple’s proprietary Apple Intelligence. This theme continued in the latest financial results announcement, with CEO Tim Cook highlighting Apple Intelligence as a key feature of the new iPads.

“We are very excited about Apple Intelligence and remain incredibly optimistic about the extraordinary possibilities of AI and its ability to enrich customers’ lives,” said Tim Cook, Apple’s chief executive. “We will continue to make significant investments in this technology and dedicate ourselves to the innovation that will unlock its full potential.” During the earnings call, Apple was questioned about potential hardware updates necessary for the new Apple Intelligence features.