- Apple’s decline Friday was its worst day so far in 2023, and its largest loss since Sept. 29 last year.
- The stock slid after the company said it expected another decline in revenue in the September quarter, although it signaled that iPhone sales would do better than a 2% year-over-year decline.
- The stock is up 40% so far this year.
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- Shares of Apple were down on Friday after the company reported lower year-over-year revenue for its flagship products in the third quarter, although the company beat estimates on earnings per share and revenue.
- Apple reported iPhone revenue for the quarter was $39.67 billion, compared to $40.67 billion during the same period last year.
- CFO Luca Maestri told analysts that Apple expects similar sales results in the following quarter.
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- In its third-quarter earnings report on Thursday, Apple reported a decline in sales for its most iconic hardware products.
- Offsetting the hardware softness is accelerating growth in the services business, a major profit driver.
- The services division’s growth was “better than we expected,” Apple CEO Tim Cook said.
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- Apple is using an internal chatbot to help its employees “prototype future features, summarize text and answer questions based on data it has been trained with.”
- Apple hasn’t been sure what it wants to do with its Apple GPT chatbot project on the customer-facing side yet, but according to Bloomberg's Gurman, Apple is looking at ways to expand the use of generative AI within its organization, with one possibility being giving the tool to its AppleCare support staff to better help customers dealing with issues.
Read More at theverge.com
- Taiwan Semiconductor Manufacturing Co. will delay production at its new Arizona-based chip plant to 2025 due to a shortage of skilled labor, the company’s chairman said on its second quarter earnings call Thursday.
- Apple has said it plans use computer chips built at that plant.
- TSMC’s chairman said the company is working to send trained technicians from Taiwan to train local workers to help accelerate equipment installation.
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