Apple Faces Sales Slump and Competition Despite Stock Surge
• Apple's stock price surged 49% in 2023, but revenue declined for 4 straight quarters - the longest slump since the dot-com era • Smartphone sales industry-wide hit a 10-year low; Apple faced competition from Samsung, Huawei, Xiaomi • No new iPad models in 2023 for the first time ever; Mac and laptop sales fell 30% • Apple Watch sales impacted by patent lawsuit over blood oxygen monitoring technology • Future success rests on reigniting hardware sales and continuing to grow services segment