(CNBC) Apple missed expectations for revenue, profit, and sales for many of its lines of business on Thursday, sending the stock lower in extended trading. Apple’s overall sales for the holiday quarter were about 5% lower than last year’s, the first year-over-year sales decline since 2019. Apple CEO Tim Cook said three factors hurt the results: a strong dollar, production issues in China affecting the iPhone 14 Pro and iPhone 14 Pro Max, and the overall macroeconomic environment.
Apple sales drop 5% in largest quarterly revenue decline since 2016
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