Apple faces lukewarm demand in China after quarterly revenue drop: Analysts

SHANGHAI: Apple should brace for a weakening of demand in China as shoppers curb spending in an anemic economy, some analysts warned on Friday, after the iPhone maker said demand had rebounded in mid-June after COVID-19 lockdowns hampered sales.

The iPhone maker on Thursday reported quarterly revenue in Greater China fell 1%, snapping a streak of strong quarters in the region.

Overall, Apple’s revenue rose 2%, beating estimates, and the company said there had been no slowdown in demand for iPhones globally despite macroeconomic indicators turning negative.