Ahead of Tesla's (TSLA) earnings, Melissa Otto breaks down other Mag 7 companies reporting next week. Uncertainty around iPhone sales will play a part in how Apple (AAPL) will deliver.
CNBC's Deidre Bosa joins 'The Exchange' to discuss Apple's increased challenges in China.
Among the seven companies, Tesla is going to be the first to report, with its earnings release scheduled after market close today.
Apple on Wednesday released developer betas iOS 18.2, iPadOS 18.2, and macOS Sequoia 15.2, delivering new Apple Intelligence features including Genmoji, Image Playground, Visual Intelligence, Image Wand, and ChatGPT integration.
Apple on Wednesday released a beta version of a slew of Apple Intelligence features, including its long-awaited ChatGPT integration. Investors hope new AI features will spur a wave of iPhone upgrades because they're only available on the latest devices.
Apple shares fell about 2% on Wednesday after industry supply chain analyst Ming-Chi Kuo said the company has cut orders for the iPhone 16 by about 10 million units. Kuo said most of the cuts impact the regular iPhone 16 instead of the iPhone 16 Pro models, which have nicer displays and better cameras and have been more popular with consumers.
CNBC's Deirdre Bosa reports on Tim Cook's visit to China.
The third-quarter earnings for the "Mag 7" companies are expected to be up 16.2% from the same period last year on 13.6% higher revenues.
Apple and Goldman Sachs will pay over $89 million in combined fines and refunds because of failures stemming from the companies' Apple Card partnership, according to U.S. regulators Wednesday, which temporarily blocked Goldman from issuing new credit cards.
Apple and Goldman Sachs were fined more than $89 million for mishandling consumer disputes of Apple Card transactions, the Consumer Financial Protection Bureau said on Wednesday. The bureau also banned Goldman Sachs from launching new credit cards unless it can provide an adequate plan to comply with the law.
Apple has sharply scaled back its Vision Pro production since early summer and could stop making the existing version of the mixed reality headset by year-end, the Information reported on Wednesday, citing people involved in building its components.
Corporate giants Goldman Sachs and Apple will pay $89 million for violations of consumer protection laws in their joint credit card business, the U.S. Consumer Financial Protection Bureau announced Wednesday.