Apple Q4 sales fall as big drop in Mac, iPad revenue offsets rise in iPhone sales

Published

2 years ago

November 9, 2023

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Appleon Thursday gave a sales forecast for the holiday quarter that missed Wall Street expectations, hurt by weak demand for iPads and wearables, sending its shares down 3.5% in after-hours trading.

Chief ExecutiveTimCookinsisted that the company’s new iPhone 15 models were doing well in China, citing a record September quarter for iPhones in the region and seeking to ease Wall Street worries that Apple was losing market share to a resurgent Huawei and other local smartphone sellers.

On a conference call with analysts, Chief Financial Officer Luca Maestri said sales for the current quarter, when Apple typically has its biggest sales of new iPhone models, will be similar to the previous year. Wall Street was expecting a forecast for sales to rise 4.97% to $122.98 billion.

Apple shares, which have risen 37% so far this year, dropped 3.5% after-hours when the company gave the forecast.

Earlier on Thursday, Apple reported quarterly sales and profit beat Wall Street expectations, helped by an uptick in iPhone sales and a $1 billion boost to services revenue that offset large drops in Mac and iPad sales.

But revenue from China dipped 2.5% and Cook said the company’s new high-end handset models – the iPhone 15 Pro and Pro Max devices – are facing supply constraints.

The Cupertino, California, company has navigated a global smartphone slump better than many of its rivals but faces an uneven economic recovery in China, a key market for Apple.

“While we believe investors should breathe a sigh of relief because sales and profits both exceeded expectations, the upside was small and we were concerned to see weak sales from China,” DA Davidson analyst Tom Forte said.

Apple said sales for the fiscal fourth quarter ended Sept. 30 fell roughly 1% to $89.50 billion but beat analyst estimates of $89.28 billion, according to LSEG data. Net income rose about 11%. Profit per share of $1.46 beat analyst expectations of $1.39 per share, according to LSEG.

Apple is facing tougher competition in the smartphone market this year as Huawei TechnologiesLreturns to the field with new phones powered by Chinese-made chips after being all but shut out of the market for several years by US government trade curbs.

Apple’s sales in China fell to $15.08 billion from $15.47 billion in the fourth quarter a year ago. Apple’s Cook said that after accounting for foreign exchange rates, Apple’s business in China grew year-over-year, driven by iPhone sales and services revenue.

“In mainland China, we set a quarterly record for the September quarter for iPhone,” Cook told Reuters. “We had four out of the top five best-selling smartphones in urban China.”

Cook said Apple was “working hard to manufacture more” iPhone 15 Pro and Pro Max devices. “We do believe that later this quarter, we’ll reach a supply-demand balance,” he said.

Several global trends are also playing in Apple’s favor, with forecasters predicting that the smartphone market has bottomed out and may start to recover in 2024.

In the longer term, investors are eying how Apple responds to the boom in generative artificial intelligence in which systems can follow prompts in human-like ways – an area that has attracted billions in spending by Microsoftand Alphabet’sGoogle. Apple has said it is working on the technology and views it as a way to improve a wide range of products.

For now, the iPhone remains Apple’s biggest seller. Sales of the device were $43.81 billion in the fourth quarter, in line with analyst expectations of $43.81 billion, according to LSEG data.

The personal computer market is also expected to fare better in the coming year. Earlier this week,Apple rolled outnew Mac machines.

Still, Mac sales slumped by a third to $7.61 billion and iPad sales declined 10% to $6.44 billion, compared with expectations of $8.63 billion and $6.07 billion, respectively.

Sales in Apple’s wearables segment, which includes the Apple Watch and AirPods, fell 3% to $9.32 billion, short of estimates of $9.43 billion, according to LSEG data.

Apple has faced several quarters of declining sales of Macs and iPads, and the fourth quarter continued that trend.

Sales in Apple’s services segment, which includes Apple TV+ and which recently closed a deal with global soccer superstar Lionel Messi, rose 16% to $22.31 billion, compared with analyst estimates of $21.35 billion.

US

Charlie Kirk suspect arrested after tip-off from father

Published

2 hours ago

September 13, 2025

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Charlie Kirk suspect arrested after tip-off from father

US officials have confirmed the suspect in the killing of Charlie Kirk has been arrested and identified as 22-year-old Tyler Robinson.

Utah governor Spencer Cox started a news conference with the phrase “we got him”, adding that a member of Robinson’s family alerted authorities. It has been widely reported that Robinson’s father had turned him in.

The details broadly match information released by US President Donald Trump earlier on Fox News.

Explainer: All we know about the suspect

Mr Kirk, 31, a Trump supporter and right-wing influencer, was fatally shot in the neck on Wednesday afternoon while speaking to university students at an event in Utah.

Two people were previously arrested and then released, with officials saying they were only persons of interest.

FBI director Kash Patel, who also spoke at the news conference, confirmed the suspect was taken into custody on Thursday at 10pm local time (5am UK time).

He praised Mr Cox and Mr Trump for their support and finished with a message for Charlie Kirk: “To my friend Charlie Kirk. Rest now, brother. We have the watch and I’ll see you in Valhalla.”

Robinson believed Kirk was ‘full of hate’

Mr Cox described how messages between Tyler Robinson and his roommate revealed information about the alleged plot including details about a rifle, matching the description of the weapon recovered after the shooting.

Bullets with messages inscribed on the casings were also discovered with the rifle, including “Hey fascist! Catch!” and “If you read this, you are gay, LMAO”.

Explainer: How Charlie Kirk was killed

Mr Cox said a family member told officials that Robinson “had become more political in recent years” and had criticised Charlie Kirk, adding that Robinson said Mr Kirk was “full of hate and spreading hate”.

Robinson ‘confessed’ to killing

Utah’s governor said a family member reached out to a friend, who contacted authorities on Thursday with information that Robinson had confessed or implied that he carried out the shooting.

Sky’s US partner network NBC News reports the family member was Robinson’s father, who went to a church minister, who then contacted a local sheriff.

Mr Cox said he thought Robinson acted alone and there was no evidence anyone else was involved, but did not speculate on a potential motive. He added that Robinson had been living for a long time with his family in Washington County, in southwest Utah.

Political motivation will feed into the political fallout

We were told that Tyler Robinson, over time, had grown more politically engaged and had a dislike of Charlie Kirk.

Words inscribed on ammunition found discarded included: “Hey fascist, catch!” There were also the words to the song “Bella ciao,” an anthem for the Partisans who fought for the Italian Resistance against the Nazis.

The sentiments would appear to confirm early suggestions of a political motivation – they will feed into the political fallout

If it was inevitable that the assassin would be found eventually, the broader uncertainty is how this episode ends for the United States.

The Utah governor acknowledged dangers when he told the news conference: “This is our moment, do we escalate or do we find an off-ramp? History will dictate if this is a turning point for our country.”

His theme was unity and it’s a message America needs to hear. The danger, laid bare in the aftermath of the shooting, is that it’s drowned out by recrimination. Reaction to the assassination suggests there’s every chance.

Neighbour: He was ‘smart’ and ‘quiet’

Kristin Schwiermann, a neighbour of the suspect’s family, said he was “smart”, “quiet” and “never caused any problems”.

“I am shocked, very shocked,” she said. “I feel for his mom. She’s a great mom, and he has a great dad.”

At the time of the shooting, Robinson was a third-year student on the electrical apprenticeship programme at Dixie Technical College in Utah.

He previously earned a four-year scholarship to Utah State University, but left after one semester in 2021.

Robinson did not appear to have any criminal history, according to state records. He was a registered voter but was
not affiliated with a political party, according to voter records.

Mr Kirk was the president and co-founder of Turning Point USA, a prominent organisation that engages conservative youth on school campuses.

Read more: Who was Charlie Kirk?

The father of two, who had millions of followers across social media, appeared at Utah Valley University on Wednesday as part of a planned tour of US college campuses.

Vigil for Kirk held in London

A vigil for Mr Kirk was held at the Montgomery Statue in Whitehall, in central London, on Friday night.

The sombre event was organised by Turning Point UK, the British branch of Kirk’s right-wing youth political organisation.

“Charlie Kirk laid his life down for young people,” said Maisey.

While Jade, wearing a Make America Great Again hat with “RIP Charlie Kirk” written on it, said: “I was very, very sad when I heard the news. I didn’t agree with everything he said but that’s OK! I’m just sad I never got to meet him.”

Turning Point UK’s chief executive Jack Ross told the crowd: “Charlie Kirk has a fantastic legacy and he did so much to shape politics in the West. He stood up for free speech, he stood up for what’s right and we demand justice.

“Charlie was not killed because he talked. He was killed because people listened.”

Charges expected next week

Robinson is due to make an initial court appearance next Tuesday, when he is also expected to be charged, the Utah County attorney’s office said.

He is being held without bail after being arrested on suspicion of aggravated murder, felony discharge of a firearm causing serious bodily harm and obstruction of justice charges, according to a court affidavit.

‘Big breakthrough’, says Vance

Mr Kirk’s body was flown back from Salt Lake City to his home state of Arizona on Air Force Two on Thursday, with the US vice president and close friend JD Vance on board.

On Friday, Mr Vance posted on X that the arrest was a “big breakthrough”. He added: “We took a big step this morning in getting justice for Charlie, and for his family.”

Mr Trump said he plans to attend Mr Kirk’s funeral, although no date has yet been set.

Environment

World’s First all-electric deconstruction site runs on Volvo CE

Published

3 hours ago

September 12, 2025

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World's First all-electric deconstruction site runs on Volvo CE

Volvo Construction Equipment powers world's first all-electric deconstruction at Siemens site

This world’s first fully electric deconstruction site is being hailed as a landmark in sustainable urban development — and it’s powered by Siemens technology and Volvo Group’s battery-electric trucks and heavy equipment.

The deconstruction project (that’s kind of like a really careful demolition) marks the first full-scale electric deconstruction of its kind, and serves as important proof that with the right partners and the will to do it, urban construction projects like this can be carried out sustainably, today – and all without fossil fuels. It’s all part of Siemens’ €500 million technology campus redevelopment, the deconstruction site in Erlangen, Germany, and marks a pivotal step in advancing sustainable urban transformation and circular construction practices.

In collaboration with the demolition specialists at Metzner Recycling, Volvo CE deployed a fully electric fleet of equipment assets specially chosen to deliver quiet, precision demolition across the 25,000 cubic meter job site.

As well as deconstruction tasks, the electric machines helped sort and process approximately 12,800 tons of construction waste, with 96% recycled into raw materials for future use – supporting the shift towards circular materials management.

VOLVO CE

“At Siemens Real Estate, we are committed to pushing the boundaries of sustainable construction and demolition,” explains Christian Franz, Head of Sustainability at Siemens Real Estate. “This groundbreaking electric deconstruction project boasts an impressive 96% recycling rate and is a testament to our commitment to achieving excellence in sustainability … this project illustrates how partnerships and determination can create a lasting impact and help shape a more sustainable real estate industry.”

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In addition the construction equipment was hauled into the site by Volvo Truck’s battery electric semi trucks, enabling emission-free operations from demolition, to crushing, materials processing, and transport.

Electrek’s Take

With a full line of electric wheel loaders, excavators, articulated haul trucks – even drum rollers and off-grid charging solutions to haul around with their electric semi trucks – Volvo is in a great position to take advantage of increasingly restrictive noise and emission regulations across Europe.

It’s too bad they’re suing California to be able to pollute more.

SOURCE | IMAGES: Volvo CE.

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Technology

OpenAI announces new mentorship program for budding tech founders

Published

5 hours ago

September 12, 2025

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OpenAI announces new mentorship program for budding tech founders

Dado Ruvic | Reuters

OpenAI on Friday introduced a new program, dubbed the “OpenAI Grove,” for early tech entrepreneurs looking to build with artificial intelligence, and applications are already open.

Unlike OpenAI’s Pioneer Program, which launched in April, Grove is aimed towards individuals at the very nascent phases of their company development, from the pre-idea to pre-seed stage.

For five weeks, participants will receive mentoring from OpenAI technical leaders, early access to new tools and models, and in-person workshops, located in the company’s San Francisco headquarters.

Roughly 15 members will join Grove’s first cohort, which will run from Oct. 20 to Nov. 21, 2025. Applicants will have until Sept. 24 to submit an entry form.

CNBC has reached out to OpenAI for comment on the program.

Following the program, Grove participants will be able to continue working internally with the ChatGPT maker, which was recent valued $500 billion.

Other industry rivals have also already launched their own AI accelerator programs, including the Google for Startups Cloud AI Accelerator last winter. Earlier this April, Microsoft for Startups partnered with PearlX, a cohort accelerator program for pre-seed companies.

Nurturing these budding AI companies is just a small chip in the recent massive investments into AI firms, which ate up an impressive 71% of U.S. venture funding in 2025, up from 45% last year, according to an analysis from J.P. Morgan.

AI startups raised $104.3 billion in the U.S. in the first half of this year, and currently over 1,300 AI startups have valuations of over $100 million, according to CB Insights.