Apple has missed Wall Street estimates, seeing its largest quarterly revenue decline since 2016 in the new Q4 2022 earnings report.  The company missed sales, profit, and revenue expectations. Apple CEO Tim Cook said Apple's Q4 performance was hindered by three main factors: The rise of the U.S. dollar's value, iPhone 14 Pro and iPhone 14 Pro Max production issues in China and the macroeconomic environment.  Apple's adjusted earnings per share were $1.88 versus the $1.94 estimates. Its overall revenue was $117.15B, a relatively large miss compared to the $121B estimates. Apple's sales dropped by 5% compared to 2021, the largest YoY drop since 2019. The California-based company stated that its overall number of active devices now stands at 2 billion globally, up from 1.8 billion in 2021. The company's share price dropped by 4% in extended trading after the earnings report was published.