Apple's revenue, profit up despite slowing economy; not immune to recession

Apple managed to boost both its sales and profit during a summertime quarter that depressed the fortunes of most other major tech companies, but that doesn't necessarily mean the iPhone maker will be immune to a potential recession. Even though Apple fared reasonably well, the July-September results released Thursday signalled that the world's most valuable company is facing some of the same economic headwinds that hammered the profits of Microsoft and the corporate parents of both Google and Facebook. Apple's fiscal fourth quarter revenue rose 8% from the same time last year to $90.1 billion. That was an improvement from the scant 2% uptick in revenue during its April-June quarter when supply problems caused by pandemic-related factory shutdowns dinged its sales. The Cupertino, California, company's profit for the most recent quarter totalled $20.72 billion, or $1.29 per share, up by less than 1% from the same time last year. Both the revenue and earnings per share were slightly

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