"Apple Faces Its Most Substantial Revenue Drop in the Last Twenty Years."

 

In 2023, Apple achieved a significant milestone by becoming the initial company to attain a $3 trillion valuation. Despite this significant achievement, Apple faced challenges throughout the year.

While Apple's value went up a lot, its earnings, or the money it made, went down the most in 22 years. Other companies were doing better than Apple, like Nvidia, whose value tripled, Meta, which went up almost 200%, Amazon, up 83%, and Alphabet and Microsoft, up 59% and 57%.

Even with these challenges, Apple still made a lot of money in 2023—$383 billion in sales and $97 billion in profit. But some of its products, like iPads and Macs, didn't sell as well. iPad sales dropped by 3.4%, and Mac sales went down by 27%, making only $10.2 billion in 2023.

Apple's recently launched iPhone 15 series is expected to drive recovery, especially in China, where three iPhone models secured spots among the top 5 best-selling phones. The Services division is another bright spot, with analysts predicting it could be worth trillions and potentially push Apple's valuation to $4 trillion, compensating for underperforming divisions.