Apple boss Tim Cook tried to beat back doubts about the future of the tech giant, after it reported its biggest sales fall in more than a year. Sales slumped 4% year-on-year in the first three months of 2024 to $90.8bn (£72.5bn), weighed down by a sharp drop in demand for iPhones.
Executives said the results were distorted by Covid-related supply disruptions, which led to unusually strong sales during the same period last year. They said sales would return to growth in the months ahead, noting upcoming product launches and investments in artificial intelligence.
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Graham Watson's insight:
Here's the BBC Business News on Apple's records, revealing that Samsung is now the world's leading handset, and sales in Greater China were down 8%. However, this exceeded expectations, and a big share buyback boosted its share price.
There's evidence that Apple are starting to focus on AI and will be launching some new products, not least the first new iPad for a while.
So what Business Management concepts can you apply?
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