Apple's Disappointing Holiday Forecast Sends Shares Slipping

Apple's sales forecast for the holiday quarter fell short of Wall Street expectations due to weak demand for iPads and wearables, causing its shares to drop about 3% in after-hours trading. While CEO Tim Cook reassured investors that the new iPhone 15 models were performing well in China, the company's revenue from China dipped 2.5% overall in the fiscal fourth quarter. Apple expects sales for the current quarter to be similar to the previous year, disappointing analysts who had anticipated a rise in sales. Despite beating expectations with sales and profit for the fiscal fourth quarter, Apple faced challenges in China and experienced drops in Mac and iPad sales.