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Apple sails into the macroeconomic headwinds
If you were bored of all those stories every three months about Apple continually setting records and posting one banner quarter after another, I’ve got great news! Apple’s first fiscal quarter of 2023—covering the holiday quarter of calendar-year 2022—was merely the company’s second-largest quarter ever, unable to match up with the same quarter a year ago.
The world of Wall Street doesn’t care so much about Apple’s tidy $30 billion profit during the quarter. It’s more worried about that five percent year-over-year decline—the company’s first such decline in almost four years. Fortunately, Apple executives were well prepared on Thursday to explain what happened. You see, it’s all about headwinds.