Gene Munster of Deepwater Asset Management said he was disappointed that Apple CEO John Ternus did not directly address personalized AI agents on the earnings call, calling them the biggest risk to Apple's ecosystem. Munster estimated about 20 million people currently use personalized agents, including Meta's Muse and the Grok Bot from Space Exploration Technologies Corp., and said usage could eventually reach billions of people daily. Ternus instead highlighted Siri's expanding capabilities and the iPhone as a personal hub. On margins, Munster noted an adjusted gross margin of 46.9% versus the Street's 47.5%, suggesting price increases are not fully offsetting higher memory costs, while iPhone growth of 17.5% beat the Street's 15.5%.
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AAPLartificial intelligenceearningstariffs
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Related tickers and likely impact
AAPL
▼ Likely negativeApple Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/02/2026 | 338.32 |
| Change that session | -1.83% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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