Apple’s Financial Rollercoaster: Record Share Buyback Amid Revenue Drop

Reported by Bodheet Bhardwaj

Apple, the tech giant we all know, just released its quarterly financial report, and it’s a bit of a mixed bag. Let’s break it down for you:

**Financial Picture:**
– Quarterly revenue: $90.8 billion, which sounds huge, but it’s actually down 4% compared to last year. That’s because fewer iPhones, iPads, and wearables were sold.
– But wait, there’s a twist! Despite the drop, Apple managed to beat expectations. How? Well, they announced a whopping $110 billion stock buyback. That’s a lot of faith in their own company!

**iPhone Woes:**
– Sales of iPhones took a hit, dropping from $51.3 billion to $45.7 billion compared to last year. Despite this, Apple’s stock rose by almost 7% in extended trade.

**Challenges Ahead:**
– Apple is facing some tough competition, especially in China where Huawei is gaining popularity again. Samsung isn’t making things easier either.
– To counter this, Apple is looking to make more of its phones in India and attract those who love ultra-premium gadgets.

**Legal Troubles:**
Apple is dealing with some legal stuff in the U.S. Apparently, there are concerns about their business dealings with Google. Apple says the lawsuit is all wrong, though.

**What’s Next?**
– Mark your calendars for May 7! Apple is hosting a special event. People are hoping for new iPads with fancy OLED screens and maybe some cool gadgets like the Magic Pen and the M3 chip.

So, there you have it! Apple’s financial rollercoaster ride – with ups, downs, and twists – all in one nutshell. Stay tuned for more updates!