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Apple Earnings: Stock Wavers Despite Strong iPhone Sales

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Derek Saul is a New Jersey-based Senior Reporter on Forbes' news team. He graduated in 2021 from Duke University, where he majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper, joining Forbes soon thereafter.

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Apple reported better than expected revenue Thursday as investors eagerly await evidence of financial growth amid Apple’s push to bring generative artificial intelligence to iPhones, though a major tax ruling weighed on the company’s profits.Apple brought in $94.9 billion in sales for the quarter ending last month, exceeding average analyst estimates of $94.5 billion and $1.64 earnings per share excluding the one-time tax charge, topping forecasts of $1.60 EPS, according to FactSet.

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