Apple CEO Tim Cook ‘very bullish on India’ as it Q1 numbers fall short of projection

has done “fairly well through Covid”. He was speaking after announcing the first quarter results of the company which showed an uncharacteristic year-on-year dip, down 5 per cent from last year to $117.2 billion.

Cook attributed the poor numbers to three factors — “foreign exchange headwinds”, Covid-19 related challenges and the “challenging macroeconomic environment”. He said Apple would have grown in most markets had it not been for the nearly 800 basis points impact on foreign exchange. The Covid-19 challenges, he said, had impacted the supply of iPhone 14 Pro and iPhone 14 Pro Max, “causing ship times to be extended far beyond what we had anticipated”. He added that production is now back to where they wanted it to be.