Apple: China takes a bite out of numbers but tech giant beats consensus

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City AM

By City A.M. Reporter Apple on Thursday reported sales and profit that beat Wall Street estimates, powered by growth in its iPhone business. But China sales missed analysts’ targets. The 2% rise in overall fiscal first-quarter sales for the company ended four straight quarters of sales declines on the strength of its iPhone 15 lineup, which includes devices capable of capturing three-dimensional video for the Vision Pro headset being released this week. Apple’s total installed base of devices hit 2.2 billion, up from 2 billion a year ago. “We did feel good about the plus 6% (revenue growth) fo…

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