California-based company is struggling to maintain the popularity and demand of its new iPhone 14 pro model. The company thinks that people are not interested in the most expensive version of the iPhone 14.
The company getting fewer sales of iPhone 14 Pro as compared to other iPhone 14 variants due to its high price tag. The demand for the iPhone 14 pro is getting lesser day by day. The supply chains are working quite effortlessly.
Apple warned everyone about the worsening of the economy in the next couple of weeks due to the holiday shopping season. However, Apple revealed that sales of iPhone 14 models rose to $42.6 billion.
Which is 10% up from $38.9 billion same time in the early days this year. The company saw a similar rise in sales of overall sales of every iPhone model as compared to the previous year.
So we can not assume that there is any loss to the California-based company. But apple expected more from its New iPhone 14 models. The company thinks that this is below average for it.
Also Read: Apple iPadOS 16 Roll Out: Here’s What Features Included
Half of the revenue company got from its updated mac computer, newly launched Apple Watch Series 8, redesigned Airpods Pro, and Apple watch ultra. We know you are surprised by the answer but that’s true they making handsome money with their other products too.
Airpods Pro will cost you $249, which is a value-for-money price. It has many amazing features that not many companies airpod not providing for example advanced noise cancellation.
iPhone 14 Series Plays an Important Role
Another Half of the revenue comes from iPhone 14 series, starting from $799 and going to $1099. So it’s the most important Product series for a California-based company.
Apple CEO Tim cook thinks that there will be a downfall in the economy. Even Big tech giants like Microsoft and chipmaker company intel warned about the weakening of the world economy in the next couple of weeks.
Lots of people are struggling with it and the situation is getting worse day by day. There is a downfall seen in apple stocks of 3% to $144.80 per share. A couple of hours later the stock rose to $145.78.
Apple company still recovering from the downfall of about 20% this year. which now stood at a market cap of $2.327 Trillion. Ukraine and Russia’s war is also a major reason behind the downfall of a company valuation.
Apple is not the only company whose value goes down by the war between Russia and Ukraine. Many big technology companies like Google, Amazon, and Facebook also revealed the economical trouble they faced this year.
iPhone manufacturing company revealed that they are getting sales growth in every major product category except iPad, Whose sales go down by 13% and the company has to suffer with a loss of $7.2 billion from the same time a year ago.
There is some countries’ market where sales rise after an economical crisis such as a 6% rise in China sales, an 8% higher sales in the Americas, and a nearly 10% jump in European sales.
Although, In japan, the situation is just the opposite, the sale down by nearly 10%. Tech giants companies expected a downfall in the world economy during the holiday season and they have to suffer from huge financial losses.
Also Read: Apple Reportedly Cuts iPhone 14 Plus’s Production
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