Apple Inc. has exceeded Wall Street expectations with its latest earnings report, thanks to AI-enhanced iPhones. The tech giant reported fourth-quarter revenues of $94.93 billion, a 6.1% increase from last year, and earnings per share of $1.64, surpassing analyst predictions.

Despite the positive results, Apple's share price fell after hours due to a cautious outlook for the upcoming quarter. The company anticipates revenue growth of only low to mid-single digits, below Wall Street's 6.5% expectation.

Sales in China, a crucial market, also missed targets, contributing to the share price dip. Apple’s AI features, currently in beta and limited to the latest iPhones, have yet to fully impress consumers.