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Apple in crisis will Tech Giant weather the global downturn?

Apple in crisis will Tech Giant weather the global downturn?

Apple's financial performance could have a significant impact on the direction of the stock market over the next quarter. Apple sales have been declining for the last two quarters, and the company is expected to report lower sales for a second straight quarter after markets close on Thursday. This week's performance could put a damper on the market-leading rally that has been going on since late 2020 as investors begin to worry about the company's long-term prospects.

The company has been attempting to revive demand by opening its first retail store in India last month, as well as introducing its most expensive phone, the iPhone 14 Pro Max. However, the impact of these moves remains to be seen. Apple's financial performance in the upcoming quarter will be a key indicator of whether these measures are having an effect.

Analysts are forecasting a 4% drop in revenue and a 10% drop in net income for the fiscal second quarter compared to the same period last year. This could be a sign of a prolonged slowdown in the company's business. Overall, Apple's financial performance in the upcoming quarter could have a major impact on the stock market. Investors will be closely watching the company's results to get a better understanding of the company's prospects in the coming months. Whether the company will be able to turn around its fortunes and help propel the market higher remains to be seen.

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