Apple earnings see 10% iPhone sales drop [Yahoo! Finance]
Apple Inc. (AAPL)
Last apple inc. earnings: 4/30 04:30 pm
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Source: Yahoo! Finance
The slowdown was fueled, in part, by an 8% drop in China. Apple's slow adoption of AI versus competitors like Google and Microsoft likely played a role in consumers' decision to hold off on purchasing a new iPhone. Apple has promised some big announcements on that front (likely at WWDC in June), but the iPhone 16 itself likely won't arrive until fall. In spite of those dire hardware figures, however, the company still managed to beat Wall Street expectations, fueled by both an increase on services revenue and a massive $110 billion stock buyback -- a jump over last year's $90 billion purchase. Services, which includes offerings like iCloud, Apple TV+ and Apple Music, jumped 14% for the year. Apple has long anticipated a slowdown in hardware sales, and its increasing focus on subscription services have helped to make up for some of that loss. The company is expected to release two new iPads at a standalone event next week, along with the M4 chip -- the latest addition to the Ap
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