Apple suffers 10% drop in quarterly iPhone sales to start the year, biggest drop since pandemic

Apple has posted its steepest quarterly decline in iPhone sales since the pandemic’s outset. The results reflect a deepening a slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence. The 10% drop in year-over-year iPhone sales for the January-March period is latest sign of weakness in a product that generates most of Apple’s revenue. It marked the biggest drop in iPhone sales since July-September period in 2020 when production bottlenecks caused by factory closures during the pandemic resulted in a delayed release of the new model that year. Apple's revenue and profit still eclipsed analyst projections, and its stock rose in extended trading.