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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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Macworld broke the news in on Thursday, January 30, 2025.
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