Apple Q1 earnings pinched by Covid-19 pandemic; iPhone hardest hit segment

Apple's profit dipped slightly while revenues rose in the January-March quarter, reflecting early fallout from a coronavirus pandemic that shut down its factories and then forced hundreds of Apple retail stores to close.

The results released Thursday give the first sign of how one of the world's best-known companies is faring as the US economy plunges into its first recession in more than a decade.

Apple CEO Tim Cook said the current downturn could be harder on the company than what it experienced during the Great Recession of 2007-2009, when consumers were still captivated by the then-new iPhone.

The current