Apple reported its highest March quarter ever with $111.2 billion in revenue, driven by a surge in iPhone 17 demand and 28% growth in China. CEO Tim Cook is preparing to hand over the CEO role to John Ternus on 1 September. The company highlighted its AI strategy, partnering with OpenAI and Google rather than building its own model. The results suggest that Apple is capturing AI's consumer benefits without bearing the infrastructure costs compressing margins at its peers. Sales in Greater China rose 28% to $20.5 billion, outpacing all other regions. Services revenue reached an all-time high of $31 billion and the company authorised a new $100 billion share buyback. The success of the AI strategy depends on the integration of other companies' AI into hardware that Apple designs, manufactures, and sells at lower margins its competitors cannot match.