Apple's iPhone Sales Soar to Record Highs, But AI Ambitions Lag Behind Rivals

• Apple reported a record $144 billion revenue in Q4 last year, a 16% year-on-year surge, driven by the iPhone 17 series.
• CEO Tim Cook noted a "supply chase" due to demand exceeding expectations, with strong growth in China, Europe, Japan, Americas, and a record quarter in India.
• Despite hardware success, Apple's AI development lags behind Google and Microsoft, with past AI promises at WWDC 2024 underperforming.
• Apple is partnering with Google to integrate Gemini into Siri, aiming for a smarter assistant with enhanced on-screen understanding and in-app task execution.
• The company plans a modest $16 billion investment in expansion, contrasting with Microsoft's $37 billion AI spending, while maintaining a strong balance sheet.

Why It Matters: Apple achieved record iPhone sales but is playing catch-up in AI, now partnering with Google for Siri's overhaul.