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Story summary
- Apple reported record March quarter revenue of $111.18 billion and earnings of $29.58 billion, or $2.01 per share, a 22 percent increase year over year.
- Apple named hardware chief John Ternus chief executive officer effective Sept. 1, with Tim Cook moving to executive chairman.
- Tim Cook announced a more personalized Siri later this year, AI integration, and warned of higher costs as rising memory prices and an AI-driven supply crunch pressure the industry.
