Apple (AAPL) stock is getting a bump higher after topping its fiscal second-quarter earnings estimates. The tech giant posted adjusted earnings per share of $1.53 (beating expectation of $1.50) and revenue of $90.75 billion (just slightly above estimates of $90.33 billion estimate). Facing challenges in China’s consumer market, iPhone sales notably declined 10% annually.
Maxim Group Managing Director and Senior Consumer Internet Analyst Tom Forte joins Yahoo Finance to discuss Apple’s earnings results and its opportunities to find consistent revenue streams outside of its landmark iPhone devices.
"Apple needs to have a better narrative as it pertains to its AI plans, both to sell its smartphones, the next generation of iPhones, and also to sell its stock," Forte says. "I think that anything Apple can say right now on its AI plans and generative AI could be a boost even if it won’t materially move smartphone sales for the company."
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