Apple shares rose 2% on Friday after a rosy forecast fuelled hopes of an iPhone sales rebound, even as tough competition and a lack of AI features weigh on demand in key market China. Already the world's most valuable company,

Apple's latest iPhones are flying off the shelves in some markets, and not in others. Apple CEO Tim Cook says this all comes down to where Apple Intelligence is available, and where it isn't.

Apple reported $18.5 billion in sales in greater China last quarter, comfortably below consensus estimates of $20.9 billion.