Apple posted quarterly results on Thursday that fell short of expectations 1. Apple posted quarterly results on Thursday that fell short of expectations. The company announced its first year-over-year quarterly sales decline since 2019, while its profits missed Wall Street expectations for the first time since 2016.

2. Apple announced last week that it had 935 million paid subscriptions across its platforms in Q4 2022. The company posted profits of $20.8B for its services business, a rare bright spot in an otherwise disappointing earnings call that revealed a 5% decline in Apple's Q4 sales year-over-year.

3. Apple will axe the role of Industrial Design Chief following the departure of former top designer Evans Hankey. The decision not to announce a replacement for Hankey marks a major shift in direction for Apple, which came to be known for its pioneering focus on the look and feel of its devices during the tenure of former top designer Jony Ive.

4. The Biden Administration criticized Apple and Google for stifling competition in a report released by the Commerce Department last week. The report said that the mobile app ecosystem, which is dominated by Apple and Google, is “not a level playing field" and is "harmful to developers and consumers” in its current state.

5. Apple has started inviting its retail staff to use a test version of its upcoming Apple Pay Later service, Bloomberg reports. The move indicates that Apple is preparing for a public release of its much-anticipated buy-now-pay-later (BNPL) offering, which will be released "soon" according to Apple CEO Tim Cook.

6. A South Korean court has dismissed the "batterygate" lawsuit brought against Apple by 9,800 South Korean smartphone owners. The court ruled against plaintiffs who alleged that a software update deliberately slowed down older iPhone models, bringing an end to what was the largest collective legal action in South Korea's history.

7. Apple kept its top spot in the latest edition of Forbes' annual ranking of the world's most admired companies. Big tech firms generally performed well in this year's ranking despite the recent spate of layoffs in the industry following a period of over-expansion during the pandemic