The tech giant suffered an 11% decline in China sales last quarter, raising concerns about its ability to fend off fierce competition in the country.

Key Takeaways Apple is seeing record iPhone upgrades with the rollout of Apple Intelligence, CEO Tim Cook said during the company's earnings call Thursday.Cook said Apple Intelligence will be offered in more languages starting in April,

Apple shares rose 2% on Friday after a rosy forecast fuelled hopes of an iPhone sales rebound, even as tough competition and a lack of AI features weigh on demand in key market China.

Apple on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company’s effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.

When Apple reported its December quarter earnings on Thursday, it revealed that China sales had dropped 11.1% on an annual basis. Cook told analysts that over half of the decline was due to inventory issues.

Apple is still facing headwinds in China. The company's overall sales in China declined 11.1% during to $18.51 billion during the last three months of 2024, the largest drop in the country since the first quarter of 2024.

Apple stock lifted following guidance for the current quarter after the company reported a drop in ​iPhone and China sales. Overall revenue grew 4%.

Apple stock has continued to run higher while its sales and earnings growth dramatically slowed, especially in the last two years. Over the last five years, the stock price is up 262%, revenue is up just 45.9%, and diluted earnings per share (EPS) increased by 90.5%.

Apple already had a rough start to the year. More worries about how its latest iPhones are selling aren’t helpi

Apple's Q1 earnings report comes amid AI competition and China challenges. Read what to expect from the earnings and I

Apple shares rose 2% on Friday after a rosy forecast fuelled hopes of an iPhone sales rebound, even as a lack of AI features weigh on demand.

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