Apple Made A Lot Of Money Last Quarter

Apple Made A Lot Of Money Last Quarter
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Apple is reporting a record quarterly revenue of $US75.9 billion ($108 billion), surpassing the the $US74.6 billion ($106 billion) it reported last year.

Despite the record-setting revenue, Apple executives aren’t celebrating. That’s because Apple also reported iPhone revenue will decline at its steepest rate in 15 years. The loss marks an end to more than a decade of accelerated growth and a cultural phenomenon created by the tech giant.

Apple says that it expects to see revenue of $US50 billion ($71 billion) to $US53 billion ($76 billion), which is significantly below the $US55.47 ($79) billion that analysts were predicting. If those numbers are true, it would be the worst year-over-year quarterly decline at Apple since 2001.

So, although Apple is still the most valuable company in the world (iPhone sales might not look so good in the future.