Apple Reports indicate a steeper decline sales Wall Street was more worried about the holiday slump than Wall Street, which shows that Wall Street is wrong.

The company released a statement on Thursday stating that revenue for the first quarter was $117.2 million. The figure is lower than the $121.1 billion Wall Street projected. Extended trading saw shares fall.

These are the results. Apple hasn’t been able to dodge the tech slowdown afflicting many of its competitors. The decline in demand for computers and smartphones has been evident over the last year. Covid-19 in China also contributed to this trend. Apple’s woes during the holiday sales period. Timing was another issue: The company didn’t launch new Macs and HomePods until recent weeks, missing the end of the first quarter.

The average estimate was $1.94, while earnings came in at $1.88. The Cupertino, California-based technology giant didn’t provide a revenue outlook for the second quarter, continuing an approach it adopted at the start of the Covid pandemic in 2020.

Apple Shares closed at $152.82 in New York, up 3.7% The shares have gained 16% in this year.

Tim Cook, chief executive officer, has cited the following: “challenging environment” The statement. “We remain focused on the long term,” He stated.

Apple The company’s flagship product, “The”, generated $65.8 million iPhoneThis is a decrease of $71.6 billion from the original estimate of $68.3 trillion. It also marks a decrease in the $71.6 million that the product earned a year prior. Although the most recent figures were not available, they are still significant. iPhone This was an even greater leap than in the earlier version. During the quarter, factories that produce the Pro models in China had to be closed for several weeks due to the pandemic. 

It made $7.74 Billion from Macs, far less than the estimated $9.7 Billion. That’s also a significant drop from $10.9 billion a year ago.

It was difficult to compare year-over–year because of the difficulty in comparing. Apple The previous holiday season saw the launch of a new MacBook Pro line. This time around, it didn’t update the MacBook Pro and Mac mini models until the current quarter.

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