Apple’s Sales Drop Slightly While Profit Is Up 11 Percent

Apple Faces Sales Slump Amid Industry Rebound

While many tech giants are bouncing back from the pandemic, Apple is experiencing its longest sales decline in over a decade.

Sales Fall 1 Percent, Profits Rise 11 Percent

Apple announced that its sales dropped 1 percent to $89.5 billion for the three months ending in September. However, profits increased by 11 percent to $22.96 billion.

iPhone Boosts Sales with New Releases

Despite the overall sales slump, the release of four new iPhone models helped increase iPhone sales by 3 percent to $43.81 billion.

Software and Services Show Strong Growth

Apple's software and services, including Apple Music and cloud storage, experienced a significant boost with sales jumping 16 percent to $22.31 billion.

Other Business Segments Struggle

Sales for other Apple products, such as the Mac, iPad, Apple Watch, and AirPods, declined, resulting in a 5 percent drop in total product sales to $67.18 billion.