Apple's iPhone 16 Boosts Q4 Results Despite China Headwinds

Apple surpassed Wall Street's sales and profit expectations for its fiscal fourth quarter, driven by strong early sales of the iPhone 16. Despite a slight drop in shares due to lower-than-anticipated China sales, Apple anticipates modest revenue growth. The company's AI-enhanced operating system is gaining traction among users.

Apple Inc. has reported a strong performance in its fiscal fourth quarter, beating Wall Street's expectations for both sales and profits. The success is attributed largely to the early sales of the iPhone 16, which has outpaced last year's iPhone 15 sales in the same timeframe.

However, the company experienced a 2% drop in share value in extended trading. This decline is primarily due to China sales falling short of market expectations, as noted by financial analysts. Despite this setback, Apple anticipates revenue growth in the upcoming quarter.

Apple is also focusing on integrating artificial intelligence into its products through the latest iPhone operating system, enhancing user experience without compromising privacy. The company's investment in its own technology bolsters both functionality and security.

(With inputs from agencies.)