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Apple Earnings Report Reveals Revenue Declines Across Hardware but Record iPhone and Services Sales
In the third quarter of 2023, Apple, the world’s largest listed company and technology giant, released its quarterly financial report. Total revenue fell year-on-year for four consecutive quarters, and its stock price fell nearly 3.39% after the market closed. The company has a market capitalization of approximately $2.8 trillion. Apple’s earnings report has an important impact on the market, as it accounts for about 7% of the S&P 500 index. At the same time, this financial report can also reflect clues about the overall economic health and consumer spending willingness. Despite the poor performance, this financial report was in line with market expectations. Among them, iPhone and service revenue both…