Apple quietens Wall Street’s fears of China struggles and slow AI progress

<p>Tech giant sees double-digit revenue rise, with huge gains in iPhone sales, despite stock-price drop and looming tariffs</p><p>Apple has been under pressure this year. It’s playing catch-up to its fellow tech giants on artificial intelligence, it’s seen its stock fall by double digits since the year began, it <a href="https://www.nytimes.com/2025/07/29/business/apple-china-dalian-store.html">closed a store in China</a> for the first time ever this week, and looming US tariffs on Beijing threaten its supply chain. On Thursday, the company released its third-quarter earnings of the fiscal year as investors scrutinize how the iPhone maker might turn things around.</p><p>Despite the gloomy outlook, the company is still worth more than $3tn, and it beat Wall Street’s expectations for profit and revenue this quarter. Apple reported a massive 10% year-over-year increase in revenue to $94.04bn, and $1.57 per share in earnings. That’s substantially more than the $89.3bn in revenue and $1.43 per share that analysts predicted and is the company’s biggest revenue growth since 2021.</p> <a href="https://www.theguardian.com/technology/2025/jul/31/apple-earnings-report">Continue reading...</a>