The iPhone 17 is easing Wall Street’s concerns about Apple’s AI troubles
The iPhone 17 is easing Wall Street’s concerns about Apple’s AI troubles
https://www.cnn.com/2026/01/29/tech/apple-earnings-iphone-17-sales-ai
Publish Date: 2026-01-29 18:07:00
Source Domain: www.cnn.com
- Apple reported earnings that exceeded Wall Street’s expectations, driven primarily by the popularity of the iPhone 17, which achieved $85.3 billion in revenue for the quarter.
- Apple announced that there are now 2.5 billion Apple devices in use globally, showcasing significant iPhone upgrade rates and growth in switchers from Android to iPhone.
- Revenue in China, traditionally a challenging market for Apple, increased to $25.5 billion from $18.5 billion a year ago.
- Despite the recent success, Apple continues to face industry-wide memory shortage issues and diminishing demand for the iPhone Air.
- Apple and Google have formed a partnership to integrate Google’s AI and cloud technology into Apple’s upcoming AI models, highlighting Apple’s efforts to advance in the AI field.
- CEO Tim Cook emphasized the potential of AI across Apple’s products and services but did not specify when the company expects to make profits from its AI initiatives.
