The big lessons from Big Tech's big earnings week

The iPhone drove the whole mood. “Remarkable” sales in the segment, the company said, grew 23% to $85.3 billion, the fastest pace since 2021, credited to the iPhone 17 lineup. China sales didn’t just stabilize, they yanked the story into a different register — even as the country’s subsidy program raises questions of whether this was a one-time pull-through. Greater China revenue was $25.53 billion, up 38% year over year, a surprise tailwind in a quarter where the market came in ready to interrogate demand. ...