Apple (NASDAQ: AAPL) plans to launch a revamped version of Siri, its virtual assistant powered by artificial intelligence (AI), later this year. During its fiscal 2026 second quarter, ended March 28, the company reported a year-over-year revenue growth of 16.6%, the fastest since Q4 2021. Despite not matching competitors’ spending on AI, Apple’s research and development expenses increased by 33.6% year-over-year, reflecting a significant commitment to driving product and service revenue through its ecosystem.
CEO Tim Cook, who will resign in September, stated during the earnings call that Apple is prioritizing investments in AI as part of its broader portfolio strategy. The company boasts over 2.5 billion active devices globally, leveraging this vast distribution network to enhance its AI initiatives.
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