Tim Cook emphasizes caution with AI despite its potential, avoids mass layoffs at Apple.

Apple CEO Tim Cook stated that mass layoffs are a "last resort" for the company, which has avoided the giant job cuts of its Big Tech peers. Apple did not hire as many employees during the pandemic-era tech boom, which means less pressure to cut labor costs as the bubble deflates. Apple reported $94.8 billion in quarterly revenue, buoyed by iPhone sales, which grew 1.5% year-on-year. Cook pointed to India as a future driver of iPhone sales.