CNBC August 1, 2024
Key Points
– Apple’s capital expenditures are far below its mega-cap peers and are growing at a much slower rate.
– Artificial intelligence is increasingly important at Apple, but the company takes a very different approach relative to Microsoft, Apple, Google and Meta.
– “Embedded in our results this quarter is an increase year over year in the amount we’re spending for AI and Apple Intelligence,” CEO Tim Cook told CNBC’s Steve Kovach on Thursday.
The topic of greatest interest to analysts on Apple’s quarterly earnings call on Thursday was a product that’s not even available to the general public yet.
Apple Intelligence, the company’s forthcoming artificial intelligence system, could spur a fresh cycle of iPhone upgrades and hardware sales....
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