Apple's Q4 Revenue Growth Slows, Down Nearly 3% in Overnight Trading

Odaily: Apple said in a statement on Monday, US Eastern Time, that revenue for the fourth fiscal quarter ended September 26 grew 12% to $114.5 billion. The average analyst estimate was $113.5 billion. Apple had previously forecast revenue growth of 9% to 11%. That growth rate is lower than the 16% in the June quarter. In addition, Apple's Greater China revenue for the quarter was $17.54 billion, up 21% year over year, below the market estimate of $18.75 billion. Apple did not update the standard iPhone model in September as it has in previous years, while supply shortages also made it difficult for the company to provide sufficient inventory. Apple also faces slowing growth in its services business and a situation in which it is trying to catch up in the field of artificial intelligence.

According to MSX.COM data, after the earnings release, Apple's stock price fell as much as 1% in after-hours trading, closed down 1.83%, and fell 2.87% in overnight trading.