"Apple's Revenue Rises Nearly 9% To $97.28 Billion In Q1 Of 2022, But Company Warns Of $8 Billion Fall in Sales"

"The world’s first company to hit the $3 trillion market valuation, Apple, yesterday revealed its financial results for the January-March quarter of 2022."

"Apple’s revenue reportedly grew by nearly 9% year over year to reach $97.28 billion in this quarter, the company said on Thursday, as per a report in CNBC."

"But despite strong growth, Apple shares fell nearly 4% yesterday in extended trading after its CFO Luca Maestri warned of several challenges in the current quarter of April-June 2022."

"he warned about supply constraints related to the covid pandemic, which could hurt Apple sales by $4 billion-$8 billion!"

"The tech giant also reportedly warned that demand in China was being weakened by Covid-related lockdowns."

"Apple CEO Tim Cook added that the company was “not immune” to supply chain challenges, as per the CNBC report."

"The fastest-growing region for Apple was America, which saw sales rise 20% during the quarter to $50.57 billion."

"Greater China, which includes Hong Kong and Taiwan, grew at a slower 3.47% rate to $18.34 billion. Cook said Covid-related China lockdowns didn’t affect Apple during the quarter, however."

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