Apple Shares Rise Despite iPhone Sales Dip and China Struggles

Apple’s shares rose despite missing iPhone sales expectations and struggling in China. The company earned $69.1 billion from iPhone sales, falling short of analysts’ predictions, with a nearly 4% drop in global iPhone sales. Apple’s total revenue in the holiday quarter grew 4% to $124.3 billion, beating estimates, and net profit rose 7.1% to over $36.3 billion. Services revenue grew by nearly 14%, while wearables and accessories saw a slight decline. Apple faced challenges in China, with sales dropping over 11% year-over-year but rebounding 23.3% from the previous quarter. The company is expecting moderate growth in the current quarter and continues to push its Apple Intelligence software to improve user experience.