Apple Inc. posted weaker-than-expected iPhone and services sales in its latest quarter, marring an otherwise upbeat report and sparking concerns about two areas that were expected to be highlights.
The iPhone, Apple’s flagship device, generated about $42.6 billion in the fiscal fourth quarter, the company said Thursday. Analysts had estimated nearly $42.7 billion. Services — a key growth area in recent years — brought in $19.2 billion. That was well short of the almost $20 billion projection.
Though overall revenue was greater than expected, the results dashed hopes that Apple would have a blowout quarter and sidestep a broader tech slump. Alphabet Inc., Amazon.com Inc., Meta Platforms Inc., Microsoft Corp. and others all delivered gloomy earnings reports in recent days, sending their shares tumbling.
