Investing.com - Apple reported first-quarter results Thursday that topped Wall Street analysts as stronger services revenue offset weaker iPhone sales at a time when competition from smartphone rivals in China persists.

In a rare move, analysts at Jefferies downgraded one of the largest companies in the world, Apple ( AAPL -0.39%), to underperform. Wall Street analysts are known for being bullish, so underperform and sell ratings tend to make up only a small percentage of overall analyst ratings.

Chinese startup DeepSeek has debuted an AI app that challenges OpenAI's ChatGPT and other U.S. rivals, sending a shock through Wall Street.

A tech sell-off on Monday saw more than $1 trillion in value erased over concerns over China's DeepSeek AI app.

Wall Street analysts are known for being ... This includes revenue from its App Store, search-sharing revenue, Apple TV, Apple Pay, and other subscriptions and services. Last fiscal year, its ...

Apple is playing catch-up with its biggest tech peers in AI. A staggered rollout of Apple Intelligence also has meant that consumers have had to wait for many features. And competitors have jumped out ahead in other areas, such as smart glasses. Apple’s wearables business declined over the holidays as well.

A Chinese start-up that didn’t exist 18 months ago just triggered a meltdown that shows just how vulnerable Wall Street is.

China just threw a curveball into the tough Artificial Intelligence (AI) race as DeepSeek’s chatbot app just skyrocketed to the number 1 spot on both the

Wall Street's technology superstars tumbled Monday as traders worried that a competitor from China will chill the hot market created by artificial-intelligence businesses.

The tech giant’s sales of apps and services helped profit grow 7 percent from a year ago, even as the company contended with slumping sales in China.

Apple on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company’s effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.