- Apple’s iPhone sales dip.
- Services revenue soars.
- AI-powered iPhone 16 launch could determine future success.
iPhone sales take a tumble
Apple’s Q3 earnings report revealed a slight dip in iPhone revenue, falling to $39.3 billion from $39.67 billion last year.
However, the tech giant managed to beat analyst expectations, providing a silver lining to the cloudy smartphone market.
Despite iPhone struggles, Apple’s services segment shone bright, raking in $24.2 billion against projected $23.9 billion.
This boost, coupled an 8% increase in overall profit, helped offset concerns about the company’s flagship product.
All eyes on AI
Investors are now eagerly anticipating the September launch of the iPhone 16, featuring Apple Intelligence.
This new AI-powered offering will be a crucial test of Apple’s massive R&D investments, potentially determining the company’s future in an increasingly competitive tech landscape.
