Apple sales in biggest fall since 2019

Apple income dropped astatine the extremity of 2022 arsenic shoppers squeezed by the rising outgo of surviving chopped backmost their purchases.

Sales astatine the iPhone elephantine fell 5% successful the 3 months to December compared with the aforesaid play successful 2021.

It was the biggest quarterly diminution since 2019 and worse than expected.

The update came arsenic galore firms pass astir a crisp economical slowdown, particularly successful the tech assemblage which boomed during the pandemic.

Apple brag Tim Cook said the steadfast was navigating a "challenging environment".

He blamed the income diminution connected proviso shortages owed to Covid-19 disruption successful China - wherever its phones are manufactured - and a beardown dollar, arsenic good arsenic wider economical weakness stemming from rising prices, the warfare successful Ukraine and lingering effects from the pandemic.

"As the satellite continues to look unprecedented circumstances ... we cognize Apple is not immune to it," helium said connected a league telephone with investors.

Apple said the income declines occurred passim the satellite and deed astir of its products.

Sales of its fashionable iPhones were down much than 8%.

Other large tech companies besides said they were feeling unit successful updates to investors.

Amazon, which has been struggling to re-ignite its e-commerce business, said income astatine its online stores dropped 2% successful the last 3 months of 2022, compared with a twelvemonth earlier.

At Alphabet, genitor institution of Google and YouTube, income were up conscionable 1% arsenic firms chopped backmost connected advertising, the company's main root of revenue, successful the look of economical uncertainty.