Apple's quarterly sales and earnings fell short of expectations

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Apple reported quarterly revenue and per-share earnings that were short of what analysts had been projecting.

iPad revenue: $9.4 billion, up from $7.25 billion a year ago.Wearables and accessories revenue: $13.48 billion, down from $14.7 billion a year ago.

On a conference call with analysts, CEO Tim Cook blamed the lower revenue on three factors: The impact of foreign exchange rates; a challenging economy; and COVID-19-related shutdowns at factories in China that limited production of the iPhone 14 Pro and iPhone 14 Pro Max.

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They'll make up for it by charging MORE for the iPhone 15s this year.

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