Apple's $111 Billion Quarter Makes It a Forever Stock-if WWDC Proves AI Isn't a Delayed Reaction

Apple's latest quarter reinforced the base case

Apple's quarter did not create the forever-stock case. It reinforced it. $111.2 billion in revenue, 17% year-over-year growth, a March quarter revenue record, and a new iPhone March quarter revenue record show a business that already deserves credibility. The remaining question is whether AI can deepen the next iPhone cycle rather than simply extend the current one.