Apple Earnings Disappoint as Executives Mention 'Challenging Economy' Seven Times

Stephanie Keith /GettyTech giant There is no question where Apple places the blame for its lackluster earnings — during the earnings call, CEO Tim Cook and CFO Luca Maestri mentioned a variation of the phrase “challenging economy” seven times.that on Thursday, Apple released its quarterly earnings report which fell short of analysts’ predictions. The company’s stock fell in after-hours trading based on the earnings, but are positive in morning trading. Apple’s revenue of $117.

The underwhelming earnings report was brought on by a drop in iPhone sales, which made up the majority of product revenues and totaled $65.8 billion in the quarter, down eight percent from the same time last year. During the quarter, the company made $20.8 billion from services like iCloud and Apple TV+ and $6.4 billion from products. The release of the iPhone 14 contributed to the drop in product sales, but Apple executives seemed to blame external factors.

The decline in demand for the iPhone 14 and production problems associated with the coronavirus in China put pressure on the company’s supply and significantly slowed the company’s growth.

But, I thought Biden's economy was the Best

Go woke go broke!

This apple officer, you know the homosexual, always gives me the Creeps .

People getting rid of their tracking devices called iPhones lol.

Play stupid games...

Welp I've seen a steady decline in the quality of the product. And I've owned Apple products since the first Mac. The crap coming out of Apple under Cook would never have seen the light of day under Jobs.

Why does anyone pay attention to analyst? . They have zero idea what is going on. Else they would have seen this coming.

Woke is broke. Keep it up apple 🙄 lose even more customers

I wonder what next quarter will look like?

I mean you keep making the same phone every few months. Idk...

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Apple earnings fall short on underwhelming sales of iPhones and MacsApple generated net income of $30 billion, or $1.88 a share, compared with $34.6 billion, or $2.10 a share, a year earlier. Production issues in China seemed to impact $AAPL far more than expected in the holiday quarter: The iPhone 14 didn’t helped. Now Apple has a “reason” to do a layoff
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