{
  "id": 17893663,
  "title": "Apple tops sales and profit forecasts but flags AI costs ahead of holiday sales",
  "url": "https://urgent.news/2026/11/03/apple-tops-sales-and-profit-forecasts-but-flags-ai-costs-ahead-of",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-03T01:52:07.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/money/2026/11/03/apple-tops-sales-and-profit-forecasts-but-flags-ai-costs-ahead-of-holiday-sales/241772"
  },
  "original_language": "en",
  "account": "Apple surpassed analyst projections for its latest financial quarter, driven by strong iPhone sales and services revenue, on November 3. CEO John Ternus, who succeeded Tim Cook in September, expressed optimism about the company's upcoming product lineup, particularly the foldable Duo, during a call with analysts. However, CFO Kevan Parekh cautioned that Apple's gross margin would decline slightly from the September quarter's 47.9%, likely falling between 45% and 46%, primarily due to increased memory costs and expenses related to the rollout of AI-powered Siri. In June, Apple partnered with Google to enhance Siri using Google's Gemini model. The company launched three new iPhones, two desktop computers, and a new smart display with Siri AI, as well as a first-ever MacBook Pro with a touchscreen. Apple also introduced Apple Upgrade, a leasing program for US customers. Despite concerns about rising AI costs, Parekh noted that AI presents opportunities for customer upgrades and partnerships, emphasizing Apple's competitive advantage in the AI race due to minimal investments compared to rivals' heavy spending on data centers and AI infrastructure. The firm anticipates spending approximately US$11 billion over the next year, compared to over US$700 billion projected by Microsoft, Alphabet, Amazon, and Meta for the same period. Apple is currently embroiled in a legal dispute with OpenAI, accusing the AI company of attempting to steal its trade secrets as they both develop consumer hardware devices.",
  "summary": "SAN FRANCISCO, Nov 3 — Apple exceeded analysts’ expectations for its latest results on Monday when the iPhon...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "AppleInsider",
        "title": "Over 2.5 billion daily Siri requests put Apple's AI overhaul in perspective",
        "url": "https://urgent.news/2026/11/02/over-2-5-billion-daily-siri-requests-put-apples-ai-overhaul-in",
        "published": "2026-11-02T22:55:59.000Z"
      },
      {
        "outlet": "9to5Mac",
        "title": "Apple says memory costs and Siri AI will weigh on holiday quarter profit margins",
        "url": "https://urgent.news/2026/11/02/apple-says-memory-costs-and-siri-ai-will-weigh-on-holiday-quarter",
        "published": "2026-11-02T23:08:58.000Z"
      },
      {
        "outlet": "Gulf News",
        "title": "Apple beats sales and profit expectations but AI costs weigh on holiday sales",
        "url": "https://urgent.news/2026/11/03/apple-beats-sales-and-profit-expectations-but-ai-costs-weigh-on",
        "published": "2026-11-03T00:03:20.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Apple beats sales and profit expectations but AI costs weigh on holiday sales",
        "url": "https://urgent.news/2026/11/03/apple-beats-sales-and-profit-expectations-but-ai-costs-weigh-on-17883635",
        "published": "2026-11-03T00:50:16.000Z"
      },
      {
        "outlet": "Economic Times Tech",
        "title": "Apple beats sales and profit expectations but AI costs weigh on holiday sales",
        "url": "https://urgent.news/2026/11/03/apple-beats-sales-and-profit-expectations-but-ai-costs-weigh-on-17903105",
        "published": "2026-11-03T02:49:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}