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

Benzinga Neuro

May 05, 2024

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 Services
Apple 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 Performance
Tesla 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 2024
Apple’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 Buyback
Apple 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 16
A 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.

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Photo courtesy: Shutterstock

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