Apple’s sales have fallen significantly

By: Trademagazin Date: 2024. 05. 03. 09:48

In the first three months of 2024, Apple’s sales fell by 4%, down to $90.8 billion compared to the same period last year, as reported by the BBC.

The significant drop in demand for iPhones contributed to the decline, a situation the company has not faced in over a year. Apple’s leadership attributed the results to supply disruptions related to Covid-19, which had previously led to unusually strong sales. They forecast a rebound in sales in the coming months with upcoming product launches and investments in artificial intelligence. The company is also preparing for a historic $110 billion share buyback. iPhone sales dropped more than 10% compared to the previous year, with declines in all regions except Europe. Apple is also dealing with other challenges, including an antitrust lawsuit in the US against Google, which threatens payments Apple receives for making Google the default search engine on Safari.