Apple Suffers 10% Drop In Quarterly iPhone Sales To Start The Year, Biggest Drop Since Pandemic

(Associated Press) – Apple has posted its steepest quarterly decline in iPhone sales since the pandemic’s outset.

The results reflect a deepening a slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence.

The 10% drop in year-over-year iPhone sales for the January-March period is latest sign of weakness in a product that generates most of Apple’s revenue.

It marked the biggest drop in iPhone sales since July-September period in 2020 when production bottlenecks caused by factory closures during the pandemic resulted in a delayed release of the new model that year.

Apple’s revenue and profit still eclipsed analyst projections, and its stock rose in extended trading.