Apple beats earnings estimates on iPhone momentum as CEO transition looms

Cupertino: Apple posted strong quarterly earnings on Thursday, beating Wall Street expectations as iPhone sales maintained momentum through the January–March period.

The results reflect continued demand for iPhone models, which helped drive revenue above analyst forecasts. The January–March quarter performance underscores Apple’s ability to sustain sales growth despite broader market pressures.

But investors’ attention is also focused on two key developments: an upcoming CEO change and the tech firm’s artificial intelligence strategy.

Apple CEO Tim Cook announced earlier this month he will be stepping down from the role. Apple’s head of hardware engineering, John Ternus, is set to assume the CEO position later this year.

The leadership transition comes as Apple navigates growing competition in AI and seeks to define its next phase of product innovation. Markets are watching closely to see how Ternus will steer the company’s AI roadmap and hardware pipeline.