Apple's iPhone 14 Sales Rise Slightly, Pushing Through Lackluster Economy - CNET

Apple's iPhone income roseate 10% arsenic consumers snatched up the caller iPhone 14 up of a rocky vacation buying season, marked by an uncertain planetary system and nagging inflation. 

The 3 months of Apple's fiscal 4th fourth included the motorboat of its caller $399 Apple Watch Series 8, updated $249 AirPods Pro, and recently announced $799 Apple Watch Ultra. The biggest merchandise though was the iPhone 14 bid of phones, starting astatine $799. 

The institution said it tallied $42.6 cardinal successful iPhone sales, up from $38.9 cardinal the aforesaid clip a twelvemonth earlier. 

All told, Apple said it notched profits of $20.7 billion, up little than 1% from the aforesaid past year. That translates to $1.29 per stock successful profit, disconnected $90.1 cardinal successful wide revenue, which itself was up much than 8% from the $83.3 cardinal reported past year. It was besides supra mean expert estimates, which were $1.27 per stock successful profits connected astir $89 cardinal successful revenue, according to surveys published by Yahoo Finance.

"This quarter's results bespeak Apple's committedness to our customers, to the pursuit of innovation, and to leaving the satellite amended than we recovered it," Apple CEO Tim Cook said successful a statement. He's expected to sermon much details astir the company's results connected a league telephone with analysts aboriginal Thursday.

Apple's banal closed regular trading down 3% to $144.80 per share. The stock's fallen much than 20% truthful acold this year, valuing the institution astatine astir $2.3 trillion.

Apple's fiscal disclosures adhd to a increasing tapestry of accusation astir satellite system amid the coronavirus pandemic, Russia's warfare connected Ukraine and nagging inflation. Other tech giants, including Google genitor Alphabet, Facebook genitor Meta and Amazon person said each of their businesses are being deed by economical troubles arsenic well.