Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Trump: Any future attacks will be much greater unless they make peace
Trump: We worked with Netanyahu as a team
Trump: This situation cannot continue. We will either witness peace or tragedy
US President Donald Trump: The goal of the attacks was to destroy Iran's enrichment capabilities
Atomic Energy Organization of Iran: We expect the international community to condemn the law-based chaos and support Iran in achieving its legitimate rights
Atomic Energy Organization of Iran: The American enemy claimed responsibility for the attack on sites supervised by the International Atomic Energy Agency
Atomic Energy Organization of Iran: The attack took place amid apparent indifference, and possible complicity, from the International Atomic Energy Agency
Atomic Energy Organization of Iran: This attack is a continuation of the brutal attacks by the Israeli enemy over the past few days.
Atomic Energy Organization of Iran: This attack violates international law, especially the Nuclear Non-Proliferation Treaty.
Atomic Energy Organization of Iran: Nuclear sites in Fordow, Natanz, and Isfahan were attacked by Iran's enemies at dawn today

Apple revenues fall as company invests heavily in AI

  • By Al Mayadeen English
  • Source: News websites
  • 4 Aug 2023 11:58
2 Min Read

Apple CEO Tim Cook announces a significant investment in artificial intelligence (AI) as Apple shows falling revenues in Q3.

  • x
  • Apple CEO Tim Cook attends the GQ Global Creativity Awards at the Water Street Associates Building on Thursday, April 6, 2023, in New York. (AP)
    Apple CEO Tim Cook attends the GQ Global Creativity Awards at the Water Street Associates Building on Thursday, April 6, 2023, in New York. (AP)

Apple CEO Tim Cook stated on Thursday that the business would be investing extensively in artificial intelligence (AI) after the company reported its third straight quarter of falling revenues, the company's worst sales downturn since 2016.

Apple's revenue for the fiscal third quarter ended July 1 decreased 1.4% to $81.8 billion. The corporation earned $19.9 billion in earnings during the quarter, which was more than analysts predicted.

iPhone sales fell slightly short of analyst expectations but were offset by strong sales in the services segment, which includes Apple TV+, and sales in China, which increased 8% year over year. Following the results, Apple shares were flat in extended trade.

Apple CEO Tim Cook told Reuters that the increased R&D investment was driven in part by work on generative artificial intelligence, the same sector that is driving spending at Alphabet and Microsoft.

Related News

Apple CEO, Chinese commerce minister discuss Apple's future in China

Apple to decrease CEO Tim Cook's Pay to $49Mln in 2023: SEC

Read next: Shut down AI or 'everyone on Earth will die', researcher warns

Cook said “We’ve been doing research across a wide range of AI technologies, including generative AI, for years. We’re going to continue investing and innovating and responsibly advancing our products with these technologies to help enrich people’s lives,” adding “Obviously, we’re investing a lot, and it is showing up in the R&D spending that you’re looking at.”

Apple has spent $22.61 billion on research & development so far this fiscal year, which is about $3.12 billion more than the prior year at this stage. The announcement came after Amazon announced earnings that exceeded Wall Street's forecasts.

On a related note, Amazon's sales growth accelerated in the second quarter. Sales grew 11% to $134.4 billion, exceeding analysts' expectations of $131.5 billion. The corporation recorded a $6.7 billion quarterly profit, about double what experts projected.

Amazon now anticipates an additional revenue increase this summer. It said its largest sales day ever was part of Prime Day, a marketing blitz for loyal customers last month.

Read next: Apple to decrease CEO Tim Cook's Pay to $49Mln in 2023: SEC

  • Tim Cook
  • Artificial Intelligence
  • Apple
  • Amazon

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025
Iran's heavy barrages impact multiple Israeli targets overnight

Iran's heavy barrages impact multiple Israeli targets overnight

  • Palestine
  • 18 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Iran’s Bavar-373 air defense system on display during a military drill (Mehr News Agency)
Politics

Iran intercepts Israeli drones near Tehran, multiple cities

The Israeli Iron Dome air defense system fires to intercept missiles during an Iranian attack over Tel Aviv, Occupied Palestine, Sunday, June 15, 2025 (AP)
Politics

Iran warns aid to 'Israel' will be treated as aggression

US President Donald Trump arrives to board Air Force One at Joint Base Andrews, Friday, June 20, 2025, en route to Montclair, New Jersey (AP)
Politics

Trump, Erdogan made covert attempts to hold talks with Iran: Axios

Ansar Allah supporters surround a giant Iranian flag during an anti-US and anti-'Israel' weekly rally in Sanaa, Yemen, Friday, June 20, 2025 (AP)
Politics

US ships in Red Sea will be targeted if US attacks Iran: YAF

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS