Apple Sales Beat Estimates, Announces Buyback Plan

The transcript discusses Apple's financial performance, highlighting a mixed outcome with some categories exceeding estimates while others, like services, fell short. Tim Cook acknowledges the challenging macro environment but notes a record high in Apple's global user base. Investors had high expectations due to strong results from Meta and Microsoft. Apple's earnings per share exceeded estimates, and the discussion touches on supply chain issues affecting iPhone sales. Qualcomm's recent performance is analyzed for insights into Apple's situation, with concerns about delayed recovery in the smartphone market.

What inference was drawn regarding Qualcomm's numbers and their impact on Apple?

What has been the trend in the smartphone market according to the discussion?