Apple had been counting on its late entry into the AI craze to revive demand for the iPhone after last year’s sales dipped 2% from 2023’s levels. Apple said Wednesday that its phone sales climbed 1.9% to $46.84 billion for the first three months of the year. Wall Street had expected iPhone sales of $45.62 billion.

Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump's tariffs on its business.

The company announced it upped its quarterly cash dividend to $0.26 per share and its board approved a $100 billion share buyback program.

A judge said that Apple failed to comply with a prior injunction order, which was imposed in an antitrust lawsuit brought by the “Fortnite” maker.

A federal judge has found that Apple violated a court injunction in an antitrust case filed by Fortnite maker Epic Games.

Apple Inc. “outright lied” and willfully ignored an antitrust ruling to open up its App Store, a federal judge said late Wednesday as she blocked Apple from collecting new fees on certain purchases.