Apple profit ebbs as iPhone sales under pressure

In this file photo a reporter walks by an Apple logo during a media event in San Francisco, California on September 9, 2015.SAN FRANCISCO, United States —

Apple took in a record high amount from digital goods and services sold to fans of the iPhone-maker's gadgets, chief executive Tim Cook said in an earnings release. "It's been a tough year for Apple, no longer the world's most valuable company nor the top smartphone provider," Emarketer analyst Jacob Bourne said in a note to investors.Tech giant Huawei recently reported that its first-quarter profits surged over fivefold year-on-year, as the US-sanctioned firm continues to bite into competitor Apple's sales.

But that move faces a threat from regulators and app makers who accuse Apple of essentially having a monopoly due to its tight control of the App Store and gadget operating software. An Apple event next week is expected to spotlight new iPads, and software innovation news will be the focus of an annual WWDC developers conference in June.Meanwhile, the recently launched Vision Pro "spacial reality" headgear and new MacBook Air laptop models are not likely to have "any impact at all on the company’s bottom line anytime soon," Forrester principal analyst Thomas Husson said in a note to investors.

Source: News Formal (newsformal.com)

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