Editing Apple Inc. (section)

=== Challenges and Market Headwinds   ===
Apple faced a complex landscape in 2020, with the COVID-19 pandemic causing significant supply chain disruptions and manufacturing delays. These challenges led to inventory shortages and a 20% year-over-year decline in iPhone revenue in Q4 2020 <ref>{{cite web |url=https://www.simplymac.com/tech/supply-chain-challenges-ease-apple-expects-smoother-production-in-coming-quarters |quote=Apple faced manufacturing disruptions and inventory shortages due to COVID-19 outbreaks and geopolitical tensions in 2020. }}</ref><ref>{{cite web |url=https://www.cnbc.com/2020/10/29/apple-aapl-earnings-q4-2020.html |quote=Apple's iPhone revenue declined by over 20% year-over-year in Q4 2020. }}</ref>. Despite these setbacks, Apple’s stock doubled, reflecting investor confidence in its ability to navigate global economic challenges <ref>{{cite web |url=https://www.investopedia.com/how-covid-affects-apple-aapl-5198334 |quote=Despite supply chain disruptions and store closures, Apple posted a record fiscal year in 2020, and its stock doubled. }}</ref>.  

Competitive pressures intensified, particularly in China, where Apple’s smartphone shipments dropped by 25% year-on-year as Huawei surged to dominate the market <ref>{{cite web |url=https://www.wsj.com/tech/apples-smartphone-sales-slump-in-china-as-huawei-gains-market-share-b1a986df |quote=Apple's smartphone sales slumped in China as Huawei gained market share in 2020. }}</ref>. Regulatory scrutiny also escalated, with the European Commission investigating Apple’s App Store rules for potential antitrust violations <ref>{{cite web |url=https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1073 |quote=Apple faced intense regulatory scrutiny from the DOJ and European Commission in 2020, including antitrust investigations into its App Store rules. }}</ref>.