Daily Management Review

FT warns of decline in Apple's revenues


The fourth quarter of 2022 will see a greater than 8% fall in Apple's net income.

As a result, the IT giant will not see an increase in profits for the first time in 14 quarters, according to a report in the Financial Times that used data from the analytical firm Visible Alpha.

Visible Alpha predicts that Apple's fourth-quarter sales in 2022 will be less than the record $123.9 billion it brought in during the same period last year.

A fifth of Apple's revenue comes from China, where nearly 90% of iPhones are made. The company experienced a shortfall of 5 to 15 million iPhones due to the coronavirus limitations and the rise in sickness once they were lifted.

source: ft.com