(NASDAQ: AAPL) stock is coming out of a solid growth year, with its shares climbing 48% in 2023. However, the company's stock performance doesn't tell the whole story.

Macroeconomic headwinds caught up with Apple last year, causing reductions in consumer spending and repeated declines in product sales. Meanwhile, the company had to contend with restrictions on its smartphones in China and a potential patent infringement with its new Apple Watch. The issues culminated in a 3% year over year decline in revenue for the company's fiscal 2023.

However, Apple remains a tech behemoth with vast financial resources. Its reputation saw investors stick with the company even through challenging market conditions last year, illustrated by its stock growth. The company is in a slump, but it's unlikely to last forever.

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Source Fool.com