Apple boosts AI spending as outlook brightens | JQJO

Apple’s iPhone generated $49.02 billion, narrowly missing the $49.33 billion Wall Street forecast. The stock fell 3% after the report before climbing 5% after hours. Executives said capex will rise in the holiday quarter to back expanding AI work, with CFO Kevan Parekh noting continued investment in the product roadmap. Tim Cook expects China revenue to return to growth after a supply‑driven 4% yearly decline and said an overhauled Siri should launch next year. Guidance calls for 10–12% revenue growth and double‑digit iPhone sales, potentially making the holiday period Apple’s best quarter ever.