Chinese firm DeepSeek's artificial intelligence chatbot has soared to the top of the Apple Store's download charts, stunning industry insiders and analysts with its ability to match its US competitors.

As Wall Street worries about the lower sales in China, Apple CEO Apple CEO Tim Cook said he is "very comfortable" with the company's channel inventory. Cook said in the beginning of the call that over half of Apple's revenue decline in China was driven by a change in channel inventory,

Macworld Apple’s all-important holiday quarter was something of a mixed bag. For one, Apple posted what it called it’s “best quarter ever” with revenue of $124.3 billion, up 4 percent year over year.

According to DeepSeek’s own privacy policy, the company collects users’ keystrokes, text and audio input, uploaded files, feedback, chat history and other content for the purpose of training its AI models and may share that information with law enforcement and public authorities at its discretion.

Companies and government agencies around the world are moving to restrict their employees’ access to the tools recently released by the Chinese artificial-intelligence startup DeepSeek, according to the cybersecurity firms hired to help protect their systems.

Apple fell slightly short of investor expectations when it reported its first-quarter earnings today. While sales were up 4 percent overall, the iPhone showed signs of weakness, and sales in the Chinese market slipped by just over 11 percent.

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Apple's much-anticipated sales in Greater China fell to $18.5 billion, down 11% from $20.8 billion in the year-ago fiscal first quarter. That was also below Wall Street's estimates. According to FactSet,

Apple struggles with iPhone sales in China and rising competition. See why AAPL stock may be at risk amid a stagnant market and ongoing DoJ lawsuit.

Apple reported $18.5 billion in sales in greater China last quarter, comfortably below consensus estimates of $20.9 billion.

Apple CEO Tim Cook says that iPhone 16 sales were stronger in countries where Apple Intelligence is available.

Apple said that sales in China dropped in its latest quarter versus the prior year. Revenue in the Greater China segment fell to $18.5 billion in the first quarter, when analysts were expecting sales of $20.