 And Fed Chair Jay Powell told members of Congress he's confident inflation is receding, but not so confident it's doing so at the rate the Fed would like. Apple expects a good harvest in terms of iPhone sales this year. The company's figuring it'll see a 10% increase in shipments of the iPhone 16. Apple expects the addition of some Apple intelligence features to boost demand. Samsung expects the same thing, that AI will help boost sales of its newest foldable phones.