pple on Thursday posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season.
Apple’s profit also eroded during the past quarter, even though the Cupertino, California, company remained a pillar of prosperity. Earnings totaled $30 billion, or $1.88 per share, a 13 decrease from the same time in the previous year. Those results also missed a target of $1.94 per share set by analysts polled by FactSet Research.
But now Wall Street seems likely to reassess things in light of Apple’s latest results and ongoing worries about a potential recession in the wake of rising interest rates aimed at tamping down inflation, said Investing.com analyst Jesse Cohen. Cook had tried to brace investors for tougher sledding in late October when he warned of “increasingly difficult economic conditions” heading into the holiday season. Then, just a few days later, Apple cautioned that China’s attempts to clamp down on the spread of COVID was affecting its production lines and would prevent meeting all the demand for the premium iPhone 14 models during the holidays.
Effects of Made in China.
Apple isn't the company they were under Steve Jobs, he was everything Tim Cook isn't. There are more important issues, why don't you do a story about why Biden is getting a pass, bc if Trump was in office the impeachment hearings would of already started due to documents issue...
Yet the stock market keeps rising. Why
Maybe selling $1200 phones to a generation that thinks it’s cool not to work is a little askew…
Overpriced and no longer innovative products.
“Suffers” 😂😂
Time to bring back the iPod Classic