Apple Avoids Tech Rout Despite Holiday Slowdown

Apple Inc. gave just enough positive news in its quarterly report Thursday to escape the fate of most tech heavyweights this earnings season.

Apple's revenue and earnings beat experts' projections despite weaker iPhone and service sales. The business predicted slower growth this quarter.

Alphabet Inc., Inc., Meta Platforms Inc., Microsoft Corp. and others recently reported bleak profits, sending their shares plummeting.

Even Apple's largely upbeat results aroused worries for investors seeking for signals the long-resilient corporation would fall prey to a weakening economy

The iPhone produced $42.6 billion in the fourth quarter, Apple claimed. Analysts predicted $42.7b. Streaming services earned $19.2 billion. That's much below the $20 billion forecast.

The Cupertino, California-based corporation didn't disclose a particular sales prediction for the current quarter. Analysts predict record sales of $128 billion.

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