Apple iPhone sales inch up, bolstering results amid shaky economy

Apple’s Q2 2023 results have surpassed expectations thanks to better-than-anticipated iPhone sales and positive performance in India and other emerging markets. Despite global economic slowing, the tech company’s revenue and earnings exceeded Wall Street’s expectations, and even though China’s economic growth is slower than anticipated, Apple’s gross profit margins for the current quarter are expected to exceed forecasts. In contrast to disappointing figures for chipmakers, iPhone sales increased 1.5% and global smartphone shipments fell 13%, with Apple gaining market share against Android competitors.

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