Apple (NASDAQ:AAPL) announced a Q4 EPS of $1.46, surpassing analyst predictions by $0.07. The company’s quarterly revenue reached $89.5 billion, slightly above the $89.31 billion consensus. iPhone sales reported $43.81 billion, marginally higher than the $43.73 billion forecast, while revenue from Greater China was $15.08 billion, falling short of the expected $17.01 billion.
Despite these results, Apple shares dropped over 2% pre-market as the company’s sales forecast suggested limited growth during the typically robust holiday quarter. On Thursday, Apple projected sales below market expectations, citing reduced demand for iPads and wearables, particularly in the critical Chinese market.
This forecast heightened concerns about the overall holiday demand. Forecasts from various sources, including the U.S. National Retail Federation and Deloitte, anticipate the slowest increase in sales for this key shopping period in years, attributing the trend to persistent inflation.