Overview

• Apple’s net profit rose 9% to $23.4 billion on 10% revenue growth as iPhone sales and a rebound in China boosted quarterly performance.
• Tim Cook revealed that cumulative iPhone shipments surpassed 30 billion units and reiterated Apple’s commitment to embed generative AI features in future devices.
• Amazon’s net profit climbed by 35% to $18.2 billion, propelled by strong AWS results and growing enterprise demand for AI services.
• Microsoft posted its highest ever quarterly revenue and profit with Azure’s AI-powered services up 26%, briefly lifting its market valuation above $4 trillion.
• Four non-Apple tech giants increased AI-focused infrastructure spending by about 70% year-on-year, highlighting a sector-wide pivot toward advanced AI capabilities.