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.
Mac sales, which account for nearly a tenth of Apple’s revenue, likely fell by a quarter, while revenue from flagship iPhone is estimated to have declined by over 3%. “The reopening of China, both from the supply chain and the consumer demand standpoint, works in Apple’s favour,” said Tom Forte of D.A. Davidson, who expects iPhone sales there to rise.
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