Apple has 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 a startling slowdown for the world¡¯s most valuable company.
¡°The environment is challenging,¡± Daniel Flax, a senior research analyst at Neuberger Berman, said in an interview with Scarlet Fu on Bloomberg Television. ¡°Consumers face pressure from general interest rates, higher inflation. There are a lot of cross currents that Apple, like a lot of other companies, cannot outrun.¡±
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