Apple’s turnover is down slightly, while profit is up 11 percent

Last month, China expanded its challenge to Apple’s business by launching a regulatory overhaul of its largest iPhone maker. Taiwan’s Foxconn is facing a tax audit and investigation into its compliance with land use regulations. The criticism comes as Foxconn founder Terry Guo is running for Taiwan’s presidency in a campaign that could boost the ruling party, which has opposed closer ties with Beijing.

Mr Cook traveled to China last month during an unannounced visit that included stops at an Apple Store, a visit to the factory of Luxshare Precision, a Chinese iPhone manufacturer, and a meeting with Wang Wentao, the country’s trade minister.

The broader technology industry has been lifted by the enthusiasm for generative artificial intelligence. Last month, Microsoft reported that investments in AI were starting to drive sales of its cloud computing business. Google’s parent company Alphabet, which has invested heavily in AI, disappointed investors who had hoped for a bigger revenue boost. Amazon and Meta Platforms, Facebook’s parent company, also emphasized their investments in that area.

But Apple, known for its secrecy, has been quiet about its plans for generative AI. On a call with analysts in August, Mr. Cook said the company was investing in generative AI but was unlikely to get an update until it had an update. to market the product.

As the company looks ahead to next year, much of the company’s focus will shift to the release of its first major new product since 2014: high-tech glasses that combine the real world with virtual reality. Its $3,500 device, the Vision Pro, has the potential to generate a new revenue stream at a time when sales of its other products have slowed. Analysts predict that Apple will sell fewer than half a million units.

The company is also focused on reviving sales of its iPads and Macs. On Monday, Apple unveiled new MacBook Pros and iMacs with faster processors and encouraged customers with older Macs to upgrade. Sales of Macs fell 27 percent to $29.36 billion last fiscal year.