Thomas Monteiro
Coverage of Thomas Monteiro in the Nexus archive.
- Tim Cook’s last quarter as Apple CEO: record iPhone sales, stock still falls
Apple reported a strong fiscal third quarter with record iPhone sales and revenue growth, but its stock fell in after-hours trading. Tim Cook, Apple's CEO, announced his retirement and will be succeeded by John Ternus in September. The company cited a memory-chip shortage linked to the AI boom as a challenge and expects potential iPhone price increases later this year.
- Strong iPhone sales propel Apple's fiscal Q3 results past Wall Street's expectations
Apple exceeded Wall Street's expectations in fiscal Q3 with $29.79 billion in earnings and $109.42 billion in revenue, driven by strong iPhone and MacBook sales. The company raised Mac and iPad prices due to memory-chip shortages linked to the AI boom but has not yet increased iPhone prices. Tim Cook announced his retirement, and John Ternus will succeed him as Apple's head of hardware engineering.
- Strong iPhone sales propel Apple's fiscal Q3 results past Wall Street's expectations
Apple's fiscal Q3 results exceeded Wall Street expectations driven by strong iPhone and MacBook sales. The company raised prices on Macs and iPads due to a memory-chip shortage linked to the AI boom and reported a 27% increase in earnings and 16% revenue growth. Tim Cook announced his retirement, with John Ternus set to succeed him as Apple's head of hardware engineering.
- Meta is 'throwing spaghetti at the wall' with its AI strategy, one analyst warns
Meta's stock fell 10% as investors worry about its AI spending, with an analyst comparing its strategy to 'throwing spaghetti at the wall.' The company claims AI investments boost its core business, but 98% of revenue still comes from traditional ads. CEO Mark Zuckerberg emphasized Meta's long-term AI vision, while analysts question the financial sustainability of its current approach.