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Apple’s iPhone sales fell as the coronavirus struck

Apple is a bellwether for consumer spending, and it’s extremely dependent on Chinese manufacturing

April 30, 2020 at 6:39 p.m. EDT
An Apple store in Palo Alto, Calif. (Justin Sullivan/Getty Images)

Apple reported that second-quarter revenue inched up 1 percent, reflecting how the coronavirus has rocked its business from manufacturing to consumer demand.

Apple said revenue in the second quarter totaled $58.3 billion. iPhone revenue was $29 billion, down from $31 billion a year ago. Profits fell 2.7 percent to $11.3 billion.