Less than ten years since launching the iPhone in 2007, Apple have sold their billionth iPhone. Apple keeps beating expectations (its shares were still up 5 percent after-hours on Tuesday) because Wall Street sets the bar low enough for C.E.O.
Apple partner Vohkus' commercial director Loay Lawrence said he remains positive about Apple's results despite the sales and profit slump because "they are achieving better than what they forecasted". The company sold nearly 10 million iPads and more than 4.2 million Macs, compared to nearly 11 million iPads and 4.8 million Macs previous year.
Apple's earnings from services like iTunes, the App Store, Music, iCloud and Apple Care grew by 19 percent over the same quarter previous year, while iPhone revenues declined by 23 percent during the same period, according to the company's third-quarter financial results released yesterday.
In a statement, Cook called the iPhone one of the most successful, world-changing products in history, echoing similar sentiments from yesterday's earnings call where he said believes the iPhone is becoming a device that people can't live without.
Apple recently said it sold over 40 million iPhones in the third quarter, a few thousand more than what analysts had predicted. That marks the second straight quarter of sales declines.
APPLE fiscal 2016 Q3 revenue fell 16% year-to-year to $42.4 billion and net income fell from $10.7 billion to $7.8 billion ($1.85 to $1.42 per diluted share).
Sales of the iPhone saw a massive jump in 2015, following Apple's release of the iPhone 6.
He said Apple's business was "healthy and strong" in each of these three sources. Smartphone makers will need to focus on increasing revenue by offering more options on the software side, such as music streaming and App Store downloads. The company's best-known hardware products include the Macintosh line of computers, the iPod, the i. In his commentary, CEO Tim Cook looked to future projects around augmented reality and artificial intelligence.