Apple Builds Out U.S. Data Centers as iPhone Sales Soften

February 5, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--It seems like everyone these days has a smartphone, and that might be a problem for Apple Incorporated (NASDAQ:AAPL) (Cupertino, California): Despite posting nearly $120 billion in fourth-quarter revenues, a 1.4% increase from the same period in 2022, iPhone sales are slumping. With demand for the hardware softening, the tech titan might be inclined to build out its support for existing devices with new and improved data centers.

Industrial Info is tracking more than $3.8 billion worth of construction projects across the U.S. from Apple, nearly $800 million of which are nearing or under construction.

Other companies featured: Amazon.com Incorporated (NASDAQ:AMZN)