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

Apple said sales for the fiscal fourth quarter ended Sept. 30 fell roughly 1% to $89.50 billion, shares down 3.5% after results
CEO Tim Cook noted that Apple’s new iPhone 15 models performed well in China, experiencing a record September quarter for iPhones in the region.
Despite overall positive results, Apple’s sales in China fell by 2.5%, attributed to supply constraints for the high-end iPhone 15 Pro and Pro Max devices.
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
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.