Apple’s Q1 earnings are out. And it shows the company as the latest tech giant to report economic struggles across the industry.
Apple reported that sales of its most important product, the iPhone, fell more than 8%, to nearly $65.8 billion. The reasons: fluctuating price of the US dollar across the world and COVID-19 shutdowns late last year across the Chinese manufacturing centers the company relies on.
Tim Cook said many of those manufacturing problems have been resolved, for now.
Ultimately the reality is, demand for smartphones is falling with smartphone shipments around the world dropping a record 18% in 2022 from the year prior, according to surveys from IDC, the largest-ever decline for the industry.
Do you think Apple will be bounce back from these numbers?
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