Crypto News: Apple’s historic quarter

Hey everyone, it's Mark. Apple's blockbuster holiday quarter was impressive — but it shouldn't give cover to avoid an AI reckoning. Also: A new MacBook Pro is planned for the macOS 26.3 release cycle; the company explores a clamshell follow-up to its upcoming foldable phone; and an updated AirTag finally rolls out.

Last week in Power On: Inside Apple's AI shake-up and its plans for two new versions of Siri powered by Gemini.

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The Starters

The iPhone 17 Pro. Photographer: Eric Thayer/Bloomberg

Apple Inc. reported a historic holiday quarter and confirmed what we've long known — the iPhone 17 Pro is a hit. The product achieved its success by hitting all the right notes: a new design, solid battery life, impressive performance and cool new colors.

When Apple introduced the latest iPhones in September, it took few risks. There were no half-baked artificial intelligence features or whiz-bang enhancements that might not work — and there were certainly no false promises. The debut was the antithesis of Apple's big misfire in 2024, when it...