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A12 technology
Monday 1 august 2022

Apple still thriving as economy slows,

despite 3Q profit dip

By Michael Liedtke
(AP) — Apple’s profit
slipped during the past
quarter, but the world’s
largest technology com-
pany is holding up better
than many of its peers as
the economy teeters on
the edge of a recession.
While grappling with manu-
facturing headaches and
inflation pressures that
have vexed a wide range
of businesses, Apple saw its
profit for the April-June pe-
riod decline by 10% while The logo of Apple is illuminated at a store in the city center in
revenue edged up 2%. Munich, Germany, Wednesday, Dec. 16, 2020. Apple’s profit
Both figures were better slipped during the past quarter of 2022, but the world’s largest
than analysts projected. technology company fared better than many of its peers.
The results announced Associated Press
Thursday for Apple’s fis- “The quarter shows that 15 years. The device’s sales
cal third quarter weren’t amid all this volatility in climbed, despite inflation
a shock. That’s because tech, Apple remains a for- hovering at its highest rate
Apple had already warned tress,” said Edward Jones i n more than 40 years, a
that its revenue would be analyst Logan Purk. development that caused
depressed by as much as As usual, Apple’s results consumers to rein in their
$8 billion because of sup- were propelled by the spending on a variety of
ply chain problems that iPhone, which posted a 3% discretionary items such as
have been compounded gain in sales from the same clothing and other home
by pandemic-related shut- time last year. Analysts had goods that enjoyed an up-
downs in Chinese factories been bracing investors for tick in demand during the
that make iPhones and a slight decline because of pandemic.
other Apple products. supply chain issues and the The troubles emerging in
That scenario played out upcoming release of a new corporate earnings reports
as expected in Apple’s fis- model this fall. It marked over the past two weeks
cal third quarter. Earnings the seventh consecutive — combined with other
fell to $19.4 billion, or $1.20 quarter that iPhone sales sobering data — have
per share, while revenue have increased. heightened worries that
edged up to nearly $83 bil- The ongoing demand for the Federal Reserve Bank’s
lion. iPhones underscores the inflation-fighting increase in
The positive surprise helped enduring appeal of a de- interest rates will shove the
boost Apple’s stock price vice that has helped has economy into a recession.
by 3% in extended trading established Apple as the That would weigh on cor-
after the numbers came world’s most powerful tech porate profits and already
out. company during the past drooping stock prices.q

Is Danish king who gave name to

Bluetooth buried in Poland?

By Monika Scislowska But a Swedish archaeolo- geological satellite images
(AP) — More than 1,000 gist and a Polish researcher available on a Polish gov-
years after his death in what recently claimed in sepa- ernment portal revealed a
is now Poland, a European rate publications that they rotund shape that looked
king whose nickname lives have pinpointed his most like a Viking burial mound.
on through wireless tech- probable burial site in the But Swedish archaeologist
nology is at the center of village of Wiejkowo, in an Sven Rosborn, says Kryda
an archaeological dispute. area of northwestern Po- is wrong because Harald,
Chronicles from the Mid- land that had ties to the Vi- who converted from pa-
dle Ages say King Harald kings in Harald’s times. ganism to Christianity and
“Bluetooth” Gormsson Marek Kryda, author of the founded churches in the
of Denmark acquired his book “Viking Poland,” told area, must have received
nickname courtesy of a The Associated Press that an appropriate grave
tooth, probably dead, that a “pagan mound” which somewhere in the church-
looked bluish. One chroni- he claims he has located yard. Wiejkowo’s Church of
cle from the time also says beneath Wiejkowo’s 19th- The Immaculate Concep-
the Viking king was buried century Roman Catholic tion of the Blessed Virgin
in Roskilde, in Denmark, in church probably holds the Mary stands atop a small
the late 10th century. king’s remains. Kryda said round knoll.q