Apple credits iPhone 11 demand for record sales

Apple on Monday became the first company to hit a $3 trillion (roughly Rs. 2,23,75,950 crore) stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

Amazon records its first quarterly loss since 2015 as online sales drop, while Apple warns of an $8 billion hit from the war in Ukraine and Covid-19 lockdowns in China. Also, French growth hits zero as consumer spending falls, and the IMF warns of dangers for the economies of sub-Saharan Africa.

US tech giant Apple has announced it is stopping production of its iconic iPod device, which was first launched in 2001. With a battery life of 10 hours and enough space for 1,000 songs, the iPod completely changed the way we listen to music and paved the way for smartphones. Also in the show, US President Joe Biden says the fight against inflation is his "top priority".

Apple Safari has surpassed the billion users milestone.

The EU has agreed on the text of a law to force smartphone makers to equip their devices with a single, common charging port known as USB Type-C. The deal with member states and lawmakers comes as a setback to Apple, which had argued that imposing a universal cable could hinder innovation. We take a closer look. But first, the World Bank warns of 1970s-style stagflation as it sharply lowers its forecast for global growth.

Meta, Microsoft and other tech giants racing to build the emerging metaverse concept have formed a group to foster the development of industry standards that would make the companies' nascent digital worlds compatible with each other.

California tech giant Apple launched its new iPhone 14 model on Wednesday, featuring emergency satellite communication and improved cameras. It's Apple's latest push to increase its share of the global smartphone market. Plus, we look ahead to the European Central Bank's announced rate hike and British PM Liz Truss's much-awaited plan to deal with soaring energy bills.

Apple said on Monday it will manufacture its latest iPhone 14 in India, as the tech giant moves some of its production away from China.

On Thursday, Apple reported that revenue fell 5 percent to $117.15 billion during the three months that ended in December, the company's first quarterly sales decline since before the pandemic. Profits decreased 13 percent to $30 billion.

The iPhone maker's top supplier Foxconn plans to boost production in India, with a new facility in Bengaluru. But the move westward could be beset by red tape and quality control issues.

Martin Yang of Oppenheimer says Apple is probably not willing to "lower its price relative to other markets … just for the sake of gaining market share in the near term," as there is a good number customers who will be willing to pay a premium price for its products.

In a big gamble for the world’s most valuable company, Apple is widely expected to launch its first major new product in almost a decade at its annual developers' conference next week: a virtual reality headset.