The electronics giant Apple has released new figures that show a decline in sales in nearly every market worldwide.
Apple sales are declining in almost every nation.
According to Apple, the company’s total revenues fell by 4% to $90.8 billion (£72.5 billion), marking the largest dip in over a year.
However, the outcomes were better than anticipated, and Apple’s stock increased in New York after hours of trading.
The company said that supply shortages caused by COVID-19, which resulted in abnormally high sales during the same period last year, were the cause of the misleading figures.
It stated that it anticipated sales to increase again in the future months, mentioning planned product releases and expenditures for artificial intelligence (AI).
In the crucial Greater China market, overall sales decreased by 8%. Though iPhone sales were actually up in “mainland” China, Mr. Cook made an effort to reassure investors about the state of business in the second-largest economy in the world.
