Apple's first quarter results were better-than-expected as Mac, iPad and services revenue gained from a year ago. But iPhone revenue was down from a year ago as were wearables. China sales also took a hit in the first quarter.
With the results, Apple allayed some fears about iPhone sales. iPhone revenue was $46.22 billion in the fourth quarter ahead of expectations. However, Mac, iPad and services revenue fell short of what many analysts were expecting.
Kevan Parekh, vice president of financial planning and analysis at Apple, will become CFO.
CEO Tim Cook said Apple is also spending heavily on generative AI. "We continue to invest significantly in the innovations that will enrich our customers' lives, while leading with the values that drive our work," said Cook.
OpenAI has built momentum by closing a big partnership with Apple, a channel deal with PwC and a series of enterprise wins. These events put an exclamation point on the enterprise traction that OpenAI is seeing directly and raise a big question: Will OpenAI eventually compete with its primary investor Microsoft?
Christopher Lochhead, thirteen-time No. 1 bestselling author and a "godfather" of category design, and Matt Beane, Author of The Skill Code: How to Save Human Ability in an Age of Intelligent Machines and UCSB professor, were the guests that connected the human dots between three seemingly disparate topics.
Apple CEO Tim Cook outlined the company's generative AI strategy at Apple WWDC that revolves around Apple Intelligence, a personal intelligence system, on-device processing of large language models and a private cloud model to go along with an OpenAI partnership.
Travis Trembath, VP, Fan Strategy & Experience at the PGA Tour, sees Apple's Vision Pro potentially as the future of golf experiences and engagement with fans.
Apple CEO Tim Cook said the company saw record services revenue in the quarter powered by iPhone sales. China sales were down.
Zoom, Microsoft Teams and Cisco Webex are likely to highlight collaboration experiments in spatial computing and potentially lay the groundwork for the future of hybrid work.
Apple Vision Pro has the potential to reboot the metaverse, augmented reality and virtual reality but mass market adoption is unlikely now. Watch developers instead.
Overall, Apple's game plan is to monetize its user base with services and subscriptions.
