Apple set to post rare revenue drop as focus shifts to demand rebound

Apple Inc is expected to report its first decline in quarterly revenue in nearly four years after strict COVID-19 curbs in China rapped the economy and related protests upended iPhone production at its biggest supplier Foxconn.

Investors will look for details on how Chief Executive Tim Cook is trying to bolster demand in a weak economy that has prompted mass layoffs in the tech industry, a move Apple has so far avoided thanks to frugal hiring during the pandemic.