Apple stock falls on weak sales to China.

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Apple
reported fiscal first-quarter earnings Thursday that beat estimates for revenue and earnings, but it showed a 13% decline in sales in China, one of its most important markets.

Apple shares fell more than 4% in extended trading after management provided some details about outlook for the current quarter that suggested weakness in iPhone sales.

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Here’s how Apple did versus consensus expectations from LSEG, formerly known as Refinitiv, for the quarter ending Dec. 30:

Earnings per share: $2.18 vs. $2.10 expected
Revenue: $119.58 billion vs. $117.91 billion expected
Here’s how Apple’s product lines did versus LSEG expectations:

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iPhone revenue: $69.70 billion vs. $67.82 billion expected
Mac revenue: $7.78 billion vs. $7.73 billion expected
iPad revenue: $7.02 billion vs. $7.33 billion expected
Other Products revenue: $11.95 billion vs. $11.56 billion expected
Services revenue: $23.12 billion vs. $23.35 billion expected
Gross margin: 45.9% vs. 45.3% expected

https://www.cnbc.com/2024/02/01/apple-aapl-earnings-report-q1-2024.html