Apple (NASDAQ:AAPL) reported a holiday season sales decline that exceeded Wall Street fears, highlighting the impact of the economic slowdown and ongoing supply issues. The company announced Thursday that first-quarter revenue reached $117.2 billion, down from Wall Street’s forecast of about $121.1 billion. Apple shares fell in after-hours trading. Over the past year, demand for smartphones and computers has declined. Timing is another issue: The company didn’t launch new Macs and HomePods until recent weeks, missing the end of the first quarter. Apple did not provide a second-quarter revenue outlook, continuing its usual practice since the beginning of the pandemic in 2020.

Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue in Greater China was US$23.905 billion, down 7% year-on-year. Revenue from Europe, Japan and the rest of Asia Pacific was US$27.681 billion, US$6.755 billion and US$9.535 billion, respectively, all down year-on-year.

Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue from wearables, home products and accessories was $13.482 billion, compared with $14.701 billion in the same period last year, which missed analysts’ expectations of $15.23 billion.

Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue from the iPad was $9.396 billion, compared with $7.248 billion in the same period last year, beating analysts’ expectations of $7.76 billion.

Not only did Apple’s (NASDAQ:AAPL) fourth-quarter revenue and profit fall short of expectations, but sales of its star product, the iPhone, fell for the first time since 2020. iPhone sales in the fourth quarter were US$65.78 billion, lower than the expected US$68.3 billion, down 8.2% year-on-year, the first year-on-year decline since the third quarter of 2020, mainly due to the disruption of high-end flagship mobile phone production in the fourth quarter of last year by the epidemic.