From Yahoo Finance · · 50s
OpenAI Slows AI Device Timeline, Apple Investors Relieved
OpenAI's court update delays its consumer device launch, easing Apple's near-term competitive fears
In brief
OpenAI's court update delays its consumer device launch, easing Apple's near-term competitive fears Apple's iPhone revenue and services growth remain strong despite OpenAI's hardware timeline shift Originally reported by Yahoo Finance.
OpenAI delays consumer device
OpenAI lawyers told a judge the Altman-Ive device is not coming anytime soon, removing Apple's immediate competitive threat
“The Altman-Ive consumer device is not coming anytime soon”
Apple's iPhone revenue jumps
June-quarter iPhone revenue surged 22% to $54.3 billion with active install base hitting 2.5 billion devices
Services revenue soars
Services revenue reached $30.7 billion with paid subscriptions surpassing 1.5 billion users
Apple's stock climbs
AAPL shares trade near $333, up 43% over the past year with a $4.82 trillion market cap
Court date approaches
Next court date is October 14 after judge refused Apple's demand for immediate access to OpenAI's product schematics
The bottom line
Apple's iPhone revenue and services growth remain strong despite OpenAI's hardware timeline shift
