Apple still thriving as economy slows, despite 3Q profit dip

By MICHAEL LIEDTKE
AP Technology Writer

BERKELEY, Calif. (AP) — Apple’s profit slipped during the past quarter, but the world’s largest technology company is holding up better than many of its peers as the economy teeters on the edge of a recession. While grappling with manufacturing headaches and inflation pressures that have vexed a wide range of businesses, Apple saw its profit for the April-June period decline by 10% while revenue edged up 2%. Both figures were better than analysts projected. The results for the April-June period weren’t a shock. That’s because Apple had already warned that its revenue would be depressed by supply chain problems that have been compounded by pandemic-related shutdowns in China factories