Apple’s latest earnings show the Mac slumping and services soaring

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The company’s services business hit (another) all-time high.

Services hit an all-time revenue high , and the iPhone 14 lineup is still faring well. But more exciting news awaits Apple fans as WWDC nears in early June.Apple surpassed Wall Street expectations and said it had reached an all-time high in services revenue and set a new March quarter record for iPhone revenue inon its second quarter earnings on Thursday. The numbers show continued demand for the iPhone 14 lineup even as substantial upgrades approach this fall.

“We are pleased to report an all-time record in services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” CEO Tim Cook said in the company’s earnings release., with IDC and Canalys both reporting that worldwide shipments dropped by around 30 percent in the first quarter of 2023.

and other machines in the coming weeks, which could give Mac sales some much-needed momentum. iPad revenue was down 13 percent compared to the year-ago quarter, and Apple’s wearables category fell by 1 percent.

 

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