One intrepid Morgan Stanley analyst dared to ask how Apple will make money on its AI investments. The answer will not shock you.

As Big Tech battles for dominance in artificial intelligence, Apple is flying high on the success of the iPhone.

For its fiscal 2026 first quarter (ended Dec. 27), Apple generated record revenue of $143.8 billion, up 16% year over year, marking the company's highest growth rate since 2021. This drove diluted ...