Apple's recent earnings report revealed a mixed bag of results, with a notable 11.1% decline in iPhone sales in China overshadowing a 7.1% increase in net income for the fourth quarter. The sales drop in China, attributed to delays in the rollout of Apple Intelligence and inventory challenges, has raised concerns among investors. Despite these setbacks, Apple's positive revenue forecast for the upcoming quarter has provided some reassurance, aligning with analyst expectations of about 5% growth. The company's focus on AI features in its latest iPhone series is seen as a potential growth driver, although the staggered rollout has faced criticism.
The Direxion Daily AAPL Bull 1.5X Shares (AAPU) ETF experienced a decline, dropping 2.16% to $32.67 as of 6:00 PM on Friday, January 31.