Ed Ludlow

I go back to basics and I kind of rely on Bloomberg's Mark Gurman, who is one of the world's leading journalists when it comes to covering not just Apple, but consumer electronics.

And in the context of this earnings print, what he's written is probably true, that Apple has done enough.

to mask over or allay the concerns that investors have about a lack of progress in AI as a product.

You know, the reporting's quite clear and it's been announced now officially, right, that at least on the interim, Apple's AI generation of Siri will be underpinned by Gemini.

And Mark's reported a lot about the financials around that, right?

It's a one billion per annum agreement.

we don't and we won't get this sort of announcement like here it is, here's the date it's coming and this is what it can do until it's here.

You know, that's not how Apple operates.

Well, you know, forgive me, because I was blogging.

I didn't hear what you guys were talking about just before.

It's okay.

But in this very limited earnings release and statement, you guys maybe went over the risk factors and forward-looking statements.

Well, in May of last year, I was sat next to you two in the New York studio.

Do you remember?

And we were like, oh, that's interesting.

They've never said that before.

Right.

The only observation I'll make in line with that is that this release also says nothing about the environment for memory chips.

Memory chip prices are very high.

But their margin was pretty good, right?