Apple has agreed to pay $250 million to settle a shareholder lawsuit claiming it misled consumers about AI capabilities on iPhone 16 and some iPhone 15 models. The lawsuit arose because Apple delayed or did not deliver certain promised AI features, such as an upgraded Siri, leading to allegations of deceptive advertising. Eligible US buyers of these iPhones from June 2024 to March 2025 can claim compensation starting at $25 per device. Apple denies wrongdoing and says it plans to roll out additional AI features in future updates using Google's AI technology.
Bank of America raised its price target for Apple to $380 from $330, highlighting Apple's strong position to benefit from the emerging "agentic AI" smartphone market. This AI technology enables devices to complete tasks and manage workflows autonomou...
Apple CEO Tim Cook is stepping down after significantly growing the company’s market value to $4.535 trillion. Hardware chief John Ternus will succeed him, marking a major leadership change for the world’s most valuable company. Despite strong recent...
Apple Inc. reported a 16.3% year-over-year increase in its Services revenue, reaching $30.98 billion in Q2-FY26, with exceptionally high gross margins of 76.7%. This growth helped expand the company's overall gross margin to 49.3%, offsetting weaker ...
In the first half of fiscal year 2026, iPhone revenue increased by 22.7%, primarily due to higher average revenue per user (ARPU) driven by more memory upgrades and a shift towards premium models. Although ARPU growth is expected to slow down because...
The Magnificent 7, a group of leading megacap tech companies including Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, represent the forefront of AI and future tech. While most have advanced AI integration and partnerships, Microsoft has...
