Apple’s 3Q profit slips, but results top analyst projections

By MICHAEL LIEDTKE
AP Technology Writer

BERKELEY, Calif. (AP) — Apple’s profit slipped during the past quarter, but the world’s largest technology company fared better than many of its peers. Despite manufacturing headaches and inflation pressures that have vexed a wide range of businesses, Apple profit declined by 10% while revenue edged up 2%. But both figures were better than analysts projected. The results for the April-June period weren’t a huge surprise. That’s because Apple had already warned that its revenue would be depressed by as much as $8 billion because of supply chain problems that have been compounded by pandemic-related shutdowns in China factories