Apple Warns It Could Be Hard to Buy an iPhone 14 Pro This Holiday

From CNET: Apple's iPhone 14 Pro appears to be popular with customers, with executives saying the company hasn't caught up with demand a month after initial release -- and even though supply chain issues have eased. The comments about the phone's apparent success, which the company made Thursday, were an unusual bit of positive news out of the tech industry, which has collectively begun warning of a worsening economy ahead of the holiday shopping season.

The tech giant said sales of its iPhone 14 line of phones rose to $42.6 billion, up 10% from $38.9 billion the same time a year earlier. The iPhone's continued success followed a similar rise in overall sales, which rose 8% to $90.1 billion, and its profits, which edged up less than 1% to $20.7 billion.

Some of Apple's successes came from the company's newly updated Mac computers, as well as its upgraded $399 Apple Watch Series 8, redesigned $249 AirPods Pro and newly announced $799 Apple Watch Ultra. Still, its most important product was the iPhone 14 series of phones, which start at $799 and made up nearly half the company's overall revenue.

Despite Apple's relatively successful report, Apple CEO Tim Cook acknowledged that the economy is looking "increasingly difficult," something his peers at companies including software maker Microsoft and chipmaker Intel have also warned. "A lot of people in a lot of places are struggling," he said during a conference call Thursday. "We are still living through unprecedented times."

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