From Fortune · Jim Edwards · · 1m
Apple's AI problem Wall Street won't ignore
New CEO John Ternus beat earnings but investors punished Apple's stock over margin pressure and a silent strategy on personalized agents.
In brief
New CEO John Ternus beat earnings but investors punished Apple's stock over margin pressure and a silent strategy on personalized agents. Apple CEO John Ternus's first earnings call beat expectations but spooked investors over margins and what the company is not saying about AI agents. Originally reported by Fortune.
Ternus takes the stage
Apple's new CEO John Ternus, 51, spent his first two months celebrating new products including the foldable iPhone Duo. On Monday he introduced himself to Wall Street for his first quarterly earnings call.
Earnings beat, stock falls
Apple beat September-quarter earnings expectations, but investors traded the stock down after hours over concerns about margin pressure from a memory chip shortage and slowing services growth.
The AI question Apple won't answer
Investor Gene Munster told Fortune that Apple does not want to discuss personalized agents. He wrote on X that they are the biggest risk to the Apple ecosystem, and investors are not convinced Siri's revamped…
“It's clear they don't want to talk about personalized agents. They're the biggest risk to the Apple ecosystem.”
In short
Apple CEO John Ternus's first earnings call beat expectations but spooked investors over margins and what the company is not saying about AI agents.
