Apple profit tops Wall Street target even as iPhone, China sales fall short
- Apple's iPhone revenue fell nearly 1% to $69.1 billion during the holiday quarter, missing analysts' expectations for a 1.4% increase.
- Revenue in China dropped 11% to $18.5 billion, disappointing investors as it is Apple's biggest market during the December quarter.
- CEO Tim Cook stated that over half of the decline in China was due to changes in channel inventory and acknowledged the fierce competition.
- Analysts predict a rebound in China's sales to double digits year-on-year with the upcoming rollout of Apple Intelligence in April.
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242 Articles
242 Articles
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Left
20
Center
24
Right
23
Coverage Details
Total News Sources242
Leaning Left20Leaning Right23Center24Last UpdatedBias Distribution36% Center
Bias Distribution
- 36% of the sources are Center
36% Center
L 30%
C 36%
R 34%
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