Feb 2, 2023
Apple sales in biggest fall since 2019
Apple sales dropped at the end of 2022 as shoppers squeezed by the rising cost of living cut back their purchases. Sales at the iPhone giant fell 5% in the three months to December compared with the same period in 2021. Apple said the sales declines occurred throughout the world and hit most of its products. Sales of its popular iPhones were down more than 8%. Other big tech companies also said they were feeling pressure in updates to investors. At Alphabet, parent company of Google and YouTube, sales were up just 1% as firms cut back on advertising, the company's main source of revenue, in the face of economic uncertainty.
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