Decline in Apple Sales Persists Despite the Boost from iPhone

Apple has reported a decline in sales for the fourth consecutive quarter, despite strong demand for its iPhones and services. The company's revenues dropped by 1% to $89.5 billion in the three months leading up to September. Sales of Mac computers and iPads also struggled after a surge in interest following the lifting of lockdown measures. However, the company's profits reached $23 billion, thanks to record iPhone sales during the period. Apple's services, including iCloud and Apple Music, also saw a significant increase, bringing in $22.3 billion, a 16% jump from the previous year. Supply chain concerns were cited as a reason for potential delays in delivering the new iPhone 15 Pro and Pro Max. Apple CEO Tim Cook assured investors that efforts were being made to increase production. Despite the dip in sales, Cook expressed confidence in the company's product lineup and stated that Apple had its strongest range of products ever heading into the crucial Christmas season. Sales in China declined by 2.5%, but after accounting for exchange rates, the company reported year-on-year growth in the country. Apple's operations in China have faced challenges due to COVID-19 restrictions and tensions between the US and China. CEO Tim Cook recently visited China for the second time this year to address these issues. In March, Cook emphasized the important relationship between Apple and China as a key manufacturing base.