Apple opens Siri AI integration to all app developers

Apple and Microsoft have been added to Russia's register of digital communication providers, requiring them to retain customer data for three years and disclose it to authorities. Noncompliance may result in service bans. Both companies face regulatory disputes in Russia, including payment restrictions and app removals.

U.S. tech stocks rebounded on Nov 3, with the Nasdaq up 0.9% and S&P 500 up 0.4%, driven by semiconductor gains. Nvidia and Broadcom rose 2.3% and 3.1%, respectively, while Apple fell 1.9%. AMD reported $13.4B in revenue, beating expectations. Palantir dropped 1.6% despite 96% revenue growth. Oil prices rose due to Middle East tensions. Gold and silver saw minor gains. Investors watched U.S. midterm elections.

Apple's shares fell 4% after its earnings report, as new CEO John Ternus cited rising memory costs and Siri AI launch expenses for a lower gross margin outlook of 45-46% for Q4. The company expects memory prices to continue rising, affecting profitability. Apple's stock had risen over 20% year-to-date before the report.

Apple reported $114.48B in Q4 revenue, up 12% YoY, driven by 17.5% iPhone sales growth and record services revenue of $31.57B, up 9.8% YoY. All regions grew except Japan. Wearables revenue fell 7.9% YoY. Apple Music contributed to services growth but no subscriber details were provided.

T. Rowe Price's Tony Wang highlighted Apple's Q4 results, showing 12% revenue growth to $114.5B, driven by strong iPhone and Mac sales. Despite beating estimates, shares fell due to guidance of lower gross margins (45-46%) from higher memory costs and AI-related expenses. Wang noted resilient consumer demand but acknowledged near-term margin pressures from AI-driven costs.

Apple (AAPL) reported record Q4 '26 results but Q1 '27 guidance suggests margin pressure and slower revenue growth. An analyst downgraded AAPL to Sell due to high valuation.