Apple released its latest iPad Pro and iPad Air tablets a few months ago, and the new products gave the company’s iPad unit a significant boost after several quarters of weak sales. Coupled with the strong performance of its services and Mac businesses, Apple reported quarterly revenue of $85.8 billion, an increase of 5% over the same period last year. Revenues from iPhones and wearables were relatively flat as consumers awaited the arrival of a new wave of products.
When Apple reports its next earnings report, the company will launch the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max. Among other improvements, the Pro model will have a slightly larger display, while the standard iPhone will feature the action buttons introduced last year. The devices are expected to arrive in September alongside new AirPods headphones and updated Apple Watch hardware. Rumor has it that Apple is working on a spec upgrade for its MacBook Pro and Mac Mini, with both products likely to be upgraded to M4 chips sometime this fall.
On the software side, the company is conducting public testing of its upcoming versions of iOS 18, iPadOS 18, tvOS 18, macOS Sequoia, and watchOS 11. For iPhone, iPad, and Mac, these updates will mark Apple’s big push into generative AI capabilities, including some integration with OpenAI’s ChatGPT. The company plans to launch the Apple Intelligence suite of software features in iOS 18.1.
“What we’ve done is redeployed a lot of people to artificial intelligence and let them do other things,” Apple CEO Tim Cook told CNBC. “Certainly, what’s reflected in our results this quarter is our strong leadership in artificial intelligence and Apple Intelligence. Expenditures are increasing year by year.”
