Apple reported that iPhone sales for the quarter were down nearly 1% from the prior year to $69.1 billion, a miss from the $70.7 billion analysts were projecting, acc

Apple on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company’s effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.

Apple beat Wall Street's quarterly profit estimates on Thursday, but iPhone sales and China revenue for the holiday quarter were weak due to stiff Chinese competition and a slow rollout of artificial intelligence features.