Big Tech
Apple Predicts Return to Growth After Surprise China Sales Drop
Customers look at Apple Inc. iPhone 17 series smartphones at one of the company's stores in Shanghai, China.
Photographer: Qilai Shen/BloombergApple Inc. blamed a surprise decline in China revenue on supply disruptions, predicting it will return to growth in the world’s biggest smartphone arena as the iPhone 17 gains momentum.
Revenue dipped nearly 4% to $14.5 billion in the three months through September, the company said Thursday. That was well short of the $16.4 billion projected by analysts on average, leaving the company with only a single quarter of growth in a key market over the past two years. But Chief Executive Officer Tim Cook expressed confidence about performance in China and the new iPhone 17’s reception.