Apple will report its biggest third-quarter revenue drop in seven years.

Total by 1.6%

Apple will publish its report on the results of the third quarter of the 2023 fiscal year on Thursday, and the results of this report will not be the most rosy. According to the consensus of 24 analysts polled by Visible Alpha, Apple’s annualized revenue will decline, and this will be the largest third-quarter revenue decline for the company since 2016. 

Apple will report its biggest third-quarter revenue drop in seven years.

True, not everything is so bad. Revenue will fall by only 1.6%. And this means that Apple’s report will still be filled with the most impressive figures in absolute terms.  

Revenue will fall mainly due to a decline in iPhone sales. Here analysts are talking about a decline of more than 2%.