Apple Revenue Continues Its Momentum
AppleannouncedIts revenue continued to grow in its fiscal 2022 fourth-quarter report, which ended on Sept. 24. Fourth-quarter sales of $90.1 billion, an increase of 8% year-on-year, and net profit of $20.7 billion were all records. Full-year revenue was $394.3 billion, up 8% year over year. Total revenue, iPhone sales and net profit all beat analysts’ expectations. Falling consumer demand hasn’t had much of an impact on Apple. A number of other tech giants have seen a marked slowdown in growth. Earlier this week, Microsoft, Google and Facebook parent Meta all reported disappointing profits, citing weaker consumer demand for personal computers or weak digital advertising.