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Apple is planning on slowing spending and hiring growth across some teams in 2023 to prepare itself for a potential economic downturn that year.
The decision is apparently a result of a new move to be more cautious during uncertain times, Bloomberg reported Monday. However, the decision is not a companywide policy, sources familiar with the matter said.
According to those sources, the change won't affect all teams. Apple is also still charging ahead with an "aggressive product launch schedule" that could include a mixed-reality headset.
The report comes a little over a week after the company is slated to report its third quarter financial results. Many analysts are optimistic about Apple meeting or outpacing Wall Street expectations in the June quarter.
Although Apple did not provide revenue guidance for the June quarter, it did warn of a potential $4 billion to $8 billion revenue hit because of Covid lockdowns and supply constraints.
Despite the economic uncertainty and warnings of a potential downturn, Apple's flagship devices are expected to do better than ever in 2022 and 2023.