Apple Analyst Warns Investors About Betting Against Tech Giant As iPhone Maker On Cusp Of AI-Driven Supercycle: 'Flex The Muscles Moment For Cook & Co'

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China revenue was down 6.5% year-over-year, and the decline was a more modest 3% excluding currency headwinds, the analyst said.“We believe growth in China will return to the Cupertino story in the September quarter,” he said.“Overall this was a flex the muscles moment for Cook & Co.despite negative sentiment building around the iPhone growth story.”

Ives also highlighted Services revenue which grew in line with the guidance for double-digit growth.

In a note released immediately after the results, Ives said revenue exceeded expectations and iPhone sales also came in above the consensus.“We were not expecting anything special this quarter,” Ives said, adding that iPhone 15, however, remained strong.

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Author / Journalist: Shanthi Rexaline

Category: Technology

Markets: United StatesChina

Topics: Analyst Ratings Benzinga Stories That Matter Expert Ideas US0378331005 Gene Munster Equities Daniel Ives Tim Cook News Reiteration Earnings Top Stories Price Target AAPL Analyst Color Tech

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-08-02 @ 05:46:46 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 746 words

Reading Time: 5 minutes read

Sentences: 26 lines

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Copyright Owner: © Benzinga

News ID: 21894775

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