I’m not sure why people are surprised by this. In a lot of ways, Apple was a pandemic darling that didn’t take as big a fall as the other pandemic darlings did when the pandemic ended. When the pandemic started, there was a big splurge in tech spending that benefitted Apple + the other pandemic darlings (Zoom, Fiverr) as the whole world was going remote.

But then the pandemic ended, and so tech sales went way down as everyone started to step outdoors again.

They released the first ARM Macs with the M1 chip during the pandemic, which were a big step up in performance and power efficiency over the Intel Macs they replaced. That further raised their sales as people upgraded their old laptops.

But the M2 and M3 had the majority of their work go into improving the GPU for apps used by hardcore gamers and creative pros; the non-graphics processing increases are not as substantial. The majority of their customers are not gamers or creative pros; they just use their computers for email, social media, and word processing or sometimes spreadsheet use.

So this is not surprising at all. Not when the pandemic ended, and the M1 was good enough for most of their users. I suspect their Mac sales will go up again in a few years when the M1 is obsoleted.