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Reuters
Apple results could mark weak finish to Big Tech earnings
Apple Inc will likely report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. Apple, an industry outlier with no mass layoffs so far, is set to post its first ever revenue declines across product lines, even as iPhone demand and production recovered in China after pandemic-driven disruptions last year. “Apple is seeing moderate headwinds in its hardware businesses as iPhones face modest contraction in premium device demand and the iPad and Mac businesses could be weighed down by consumer and enterprise trends,” analysts at Cowen and Co said.
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