Apple on Thursday reported quarterly profit of $23.4 billion, topping forecasts despite concerns about the effect of US tariffs on its supply chain.

Speaking to investors during Thursday's earnings call, Tim Cook didn't appear worried that advancements in AI could replace the iPhone.

The remarks come as Apple continues to be seen as behind the AI race, with its efforts on Apple Intelligence lagging relative to its peers and Meta poaching some of its top engineers. The company is increasingly turning to AI startups for help — and reports have suggested that Apple is even open to making big acquisitions to catch up.