Apple released its first-quarter earnings report on Thursday which reveals a drop in the firm’s sales by more than 4%. The quarterly revenue in 2023 is $117.2bn while it is the greatest decline in the last seven years.  

Tim Cook, Apple’s CEO, blames the pandemic for their decline in sales, especially the situation in China where the firm’s production is based. Also the Russia-Ukraine war impacted the latest Apple records. Roger McNammee, founding partner of Elevation Partners, made a remark on BBC that “Apple’s biggest concern was its supply chain in China as the Asian country has dealt with Western economies more aggressively.”  

As Apple’s profits dropped by 13% to $30bn, iPhone sales had a decline to 8% and Mac’s sales fell by 29%. However,  Apple has now 2 billion active devices across the globe and their productions stay as one of the most wanted.  

Nevertheless, other tech firms have been struggling with recording drops in their sales since the pandemic, but they put their ultimate efforts to recover and make profit again. Recently, Amazon revealed a 2% drop in its online sales whereas the net sales is  9% up compared to 2021.