Apple on Thursday posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its
factories curtailed sales of the latest iPhone during the holiday season. The company’ssales of $117 billion for the October-
December period represented a 5% decline from the same time in the previous year, a deeper downturn than analysts had
projected. It marks Apple’s first year- over-year decrease in quarterly revenue since the January-March period in 2019when sales also slipped 5% amid slowing iPhone demand. Apple’s profit also
eroded during the past quarter, even
though the California company remained a pillar of prosperity.
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