OAKLAND, Calif.: Apple Inc forecast growing problems as COVID-19 lockdowns snarl production and demand in China, the war in Ukraine dents sales and growth slows in services, which the company sees as its engine for expansion.
Shares were down 3.5% after executives laid out their glum outlook on a conference call. The news outweighed strong results for Apple's quarter ended in March, including record profit and sales.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!