Apple Beats Earnings Estimates While 'Magnificent Seven' Companies Increase AI Infrastructure Spending
Apple reported better-than-expected earnings for its second fiscal quarter of 2026 with EPS and revenue exceeding Wall Street estimates. However, iPhone sales fell slightly short despite strong initial demand for the new model. In contrast to other tech giants like Microsoft, Alphabet, Amazon, and Meta Platforms increasing capital expenditures on AI infrastructure by over $100 billion each annually, Apple focused on shareholder returns through buybacks and a dividend hike.
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Topics: ai infrastructure apple earnings magnificent seven shareholder returns