Apple's Q2 Earnings, iPhone Sales Slump, And A Massive $110B Stock Buyback: This Week In Appleverse

The past week has been a whirlwind for Apple Inc. (NASDAQ:AAPL), with a mixed bag of news that kept investors on their toes. From an earnings beat and a massive stock buyback to a slump in iPhone sales and a lukewarm response to Siri, there’s a lot to unpack. Here’s a quick recap of the week’s top stories. Apple Q2 Earnings Outperform Muted Expectations On ServicesApple reported Q2 results that surpassed subdued predictions. The tech giant announced a whopping $110-billion stock buyback program and a slight increase in its quarterly dividend. Despite a year-on-year revenue decline, the announcement saw the shares of the tech stock rise about 3.5%. Read the full article here. Elon Musk Comments on Siri’s PerformanceTesla CEO Elon Musk responded to tech YouTuber Marques Brownlee’s question about Apple’s virtual assistant, Siri. Musk agreed with another user who expressed dissatisfaction with Siri, sparking a conversation about Apple’s AI-related moves. Read the full article here. See Also: Amazon Says Generative AI Is Now A ‘Multibillion-Dollar’ Revenue Run Rate Business: ‘Strong Demand Signal iPhone Sales Plunge in Q1 2024Apple’s iPhone sales took a hit in the first quarter of 2024, with a 16% drop compared to the same period in 2023. The drop translates to a staggering 9.3 million units, marking a rough start to the year for the company. Read the full article here. Apple’s Record Stock BuybackApple announced a massive buyback program, authorizing the repurchase of an additional $110 billion of its common stock. The move was so significant that it overshadowed the valuation of several big companies, delivering a pleasant surprise to investors. Read the full article here. New Leak Confirms Rumors About iPhone 16A new leak by Sonny Dickson confirmed recent rumors about the screen sizes for the upcoming iPhone 16 lineup. The leak also revealed details about the camera bump, hinting at a significant leap for Apple. Read the full article here. Read Next: Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos’ AWS 12-Month Revenue Is Higher Than 466 S&P 500 Companies Photo courtesy: Shutterstock Engineered by Benzinga Neuro, Edited by Rounak Jain The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.