Apple's Surprising Quarter, Tariff Concerns, AI Acquisitions And More: This Week In Appleverse
The week was a whirlwind for Apple Inc. (NASDAQ:AAPL), with a slew of developments that kept the tech giant in the headlines. From a surprisingly strong quarter to tariff concerns, AI acquisitions, and a potential takeover of the Apple Card program, there was no shortage of news.
Apple’s Unexpectedly Strong Quarter
Despite tariff concerns, Apple reported a better-than-anticipated quarter, with third-quarter results exceeding estimates. The strength of products and services was a highlight for the tech giant.
Bracing for Tariff Impact
Apple warned investors of a potential $1.1 billion hit from tariff-related costs during its fiscal fourth quarter, even as iPhone production shifts to India.
See Also: Trump Issues Nuclear Threat To Russia–And Wall Street’s Fear Gauge Goes Vertical
Open to AI Acquisitions
Amid mounting pressure to keep pace with rivals like Google, Meta, and Microsoft, Apple CEO Tim Cook stated that the company is very open to artificial intelligence acquisitions.
Emphasizing AI’s Importance
In a rare all-hands meeting at Apple’s Cupertino headquarters, Cook underscored the significance of artificial intelligence, likening it to the internet and smartphone revolutions.
JPMorgan to Take Over Apple Card?
Reports suggest that JPMorgan Chase & Co (NYSE:JPM) is in advanced talks to take over Apple’s credit card partnership from Goldman Sachs Group Inc.
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This story was generated using Benzinga Neuro and edited by Rounak Jain
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