Apple Inc. experienced a decline in sales for the fourth consecutive quarter, marking the longest period of slowdown since 2001. The company is currently grappling with sluggish demand and a challenging smartphone market in China. These results indicate that Apple is facing a more significant slowdown in China than initially anticipated. 

The Chinese government has implemented iPhone bans in certain workplaces, and the introduction of a new phone by Huawei Technologies Co. has intensified competition. Prior to Apple’s report, the S&P 500 index recorded a gain of nearly 2%, marking its strongest session since April. Investor attention is now likely to shift towards the upcoming US jobs report, which is expected to reveal a slowdown in monthly payroll growth from 336,000 to 180,00.

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