Apple to Reveal Q4 Earnings Amid Service Growth and AI Competition Concerns
October 30, 2024Concerns are growing that consumers may delay their device purchases until next year, potentially impacting Apple's crucial holiday sales.
To strengthen its position in China, Apple is considering partnerships with Baidu, particularly in the artificial intelligence sector.
The company faces intensified competition from brands like Huawei, Vivo, Xiaomi, and Honor, which are gaining traction in the market.
Apple reported a 6.1% increase in fourth-quarter revenue, reaching $94.93 billion, up from $89.50 billion the previous year.
This quarter's results include the initial sales of the iPhone 16, which have received mixed reviews from analysts regarding demand.
Despite challenges, supporters highlight Apple's strong ecosystem, in-house chip development, and robust balance sheet as significant advantages.
While analysts expect positive forecasts, concerns about the stock being overvalued may limit significant upward movement in share prices.
Analysts are divided on the potential impact of Apple's new AI features on iPhone sales, with some expressing skepticism about their effectiveness.
Ongoing regulatory challenges include an antitrust lawsuit from the U.S. Department of Justice and new EU guidelines on app openness.
The active installed base of Apple devices has reached an all-time high, reflecting strong customer loyalty and satisfaction.
In response to competitive pressures, Apple is promoting the iPhone 16 on popular Chinese platforms ahead of the Singles' Day shopping festival.
The rollout of Apple Intelligence features has begun in the U.S., but major capabilities won't be available until early 2025, limiting their immediate sales impact.
Summary based on 47 sources
Get a daily email with more Tech stories
Sources
Forbes • Oct 30, 2024
Apple Reports After The Close On 10/31 - Options Expire The Next DayInsider • Oct 31, 2024
Apple earnings live updates: Stock down; iPhone demand, AI in focusYahoo Finance • Oct 30, 2024
Apple Stock: Analysts Forecast Massive Jump in EarningsYahoo Finance • Oct 29, 2024
Apple Set to Report Q4 Earnings: Buy, Sell or Hold the Stock?