Apple faces longest sales drop in decades as iPhone slumps

Demand for the iPhone 14 model is tapering off as the company prepares to unveil the next version, which promises to be the most significant upgrade in three years. — AFP

Apple Inc posted its third straight quarter of declining sales and predicted a similar performance in the current period, hurt by an industrywide slump that has sapped demand for phones, computers and tablets.

After the company reported a revenue decline of 1.4% in the fiscal third quarter, Chief Financial Officer Luca Maestri said on a conference call that Apple’s performance would be similar this period. An additional drop would mark the longest streak of declines in two decades - a startling slowdown for the world’s most valuable company.