Apple CEO Tim Cook introduced a new suite of generative AI tools during a recent earnings call, highlighting its integration into flagship products. Despite Cook's optimism about AI's potential, Apple stock fell by 1.8% to $225.91, and dropped another 1.8% in after-hours trading. Company sales for the quarter reached $94.9 billion, a 6% increase year-over-year, although profits plummeted 35.9% to $14.7 billion, impacted by back taxes. The recently launched iOS 18.1 included features like text summarization and photo search capabilities, but early reviews were mixed, with some calling the AI enhancements “flat.” Cook announced that upcoming updates would further expand AI functionalities, including ChatGPT integration. However, he did not confirm whether the new AI features had positively influenced iPhone sales. The competitive landscape of AI is heating up, with other tech giants incorporating similar features, following stronger-than-expected results from competitors like Amazon.

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