Apple Reports Earnings Drop Amid China Sales Slump, Announces $100 Billion Buyback

Apple reported strong quarterly revenue of $95.4 billion and earnings per share of $1.65, surpassing Wall Street expectations and setting a new March-quarter record for earnings per share. Despite this performance, the stock fell after hours as investors focused on disappointing services revenue and a 2% decline in China sales, both of which missed analyst forecasts. The company announced a $100 billion share repurchase program and a 4% dividend increase, signaling confidence in long-term growth despite volatile market conditions and ongoing tariff risks. Most hardware segments, including iPhone and iPad, performed well, with notable growth in Japan and the Americas offsetting weakness in China and softer-than-expected services revenue. Apple’s strategic efforts to diversify its supply chain by increasing production in India aim to mitigate tariff and geopolitical risks. Overall, while Apple’s results beat expectations in many areas, investor sentiment remains cautious due to ongoing global economic uncertainties and challenges in key markets.