Apple rises as sales forecast sparks iPhone revival optimism
Apple shares rose more than 3% in premarket trading on Friday after the company forecast relatively strong sales growth, hinting at a recovery from a dip in iPhone sales as it rolls out artificial intelligence features. “With investors highly tuned into how AI spend will represent real revenue for big tech, Apple’s results have provided…reassurance,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Unlike its technology peers such as Microsoft who have poured billions into AI-related investments, Apple took a prudent approach, betting on AI as features meant to help sell its latest hardware. That approach paid off earlier this week, when China’s DeepSeek unveiled free AI technology that sparked fears of price wars, sank stocks of some of Apple’s competitors and sent shares of the iPhone maker up slightly. Despite strong overall sales and profits, the company delivered a slight drop in iPhone revenue for the holiday quarter that missed Wall Street estimate...