Holy fucking shit. Apple made a fucking ton of money this quarter. Apple is reporting a record-setting quarterly revenue of $75.9 billion surpassing the the $74.6 billion it reported a year ago.
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 $50 billion to $53 billion, which is significantly below the $55.47 billion that analysts were predicting. If those numbers are true, it would be the worst year-over-year quarterly decline at Apple since 2001.