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Apple stock drops on rare Q4 earnings miss

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Apple has thus far been lauded for a deliberate hiring approach that saved the company from the mass layoffs conducted by top competitors like Alphabet and Amazon. But not even the iPhone maker is immune from economic headwinds. In quarterly earnings posted today, the company notched its first year-over-year loss since before the pandemic.
The company’s quarterly revenue, for the quarter ending December 31, 2022, was $117.2 billion, down 5% year over year, according to a release tied to the news. 
CEO Tim Cook attempted to accentuate the positive in the earnings report. “As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do,” Cook wrote.
The executive opened up a bit more in an interview with CNBC, noting a trio of key headwin …

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