Apple Crushes Q2 Earnings with iPhone 17 Boom, $100B Buyback Amid AI Push

Apple beat fiscal Q2 expectations with $111B revenue (+$1.5B) and $2.01 EPS (+$0.06), fueled by extraordinary iPhone 17 demand, triggering 4% after-hours gains. The story began April 21 with Tim Cook's shift to executive chairman and John Ternus's CEO appointment amid AI lag concerns, evolving through OpenAI-Qualcomm rivalry on April 27, to earnings highlighting Edge AI potential despite disclosure calls. Strong Q1 ($143.8B revenue +16% YoY) and shareholder returns—4% dividend hike to $0.27, $100B repurchase—bolster sentiment versus AI-heavy peers.