Apple has surprised the market with better-than-expected financial results for the last quarter. Despite a $5 billion drop in iPhone sales compared with the previous year, the Apple brand saw its iPhone sales increase in China. iPad sales were also down, which was expected as there have been no new models since the end of 2022.  However, new versions of the iPad Pro and iPad Air have been announced for next week.

Mac services and computers stood out, recording year-on-year growth. However, the portable, home products and accessories category recorded a drop of $800 million. This drop is attributed to the strong performance of the previous year, marked by very good sales of the Apple Watch Ultra and the second-generation AirPods Pro.

Analysts and Apple executives are palpably enthusiastic about the prospects for generative artificial intelligence. The firm plans to announce new AI-related features at its annual developer conference on 10 June.

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