Apple (NASDAQ:AAPL) stock is rising after the company’s most recent earnings report. As expected, the firm has been struggling with iPhone sales and this weighed on overall revenues. The company also announced a $110bn share buyback programme and hinted at a major artificial intelligence (AI) launch for its iPads. And the market seems to be viewing this positively. Apple’s revenues came in 4% lower than during the first quarter of 2023. This was largely expected and it was equally unsurprising that the biggest decline came from iPhones (-10%) and China (-8%). There were some positives though. Services revenue grew 14%, causing margins to widen and earnings per share (EPS) to come fractionally ahead of the previous year. With both services revenue and EPS hitting record highs, the company boosted its shareholder returns. This came in the form of a $110bn share buyback programme. Overall, there weren’t any new risks for shareholders to worry about. That’s probably important – with antitrust concerns and issues in China, shareholders have enough to focus on for now. Apple chief Tim Cook pointed out that 2023’s sales were boosted by $5bn in iPhone revenues delayed due to supply chain issues. Without this, overall revenues were...