Apple’s Revenues Are Down For The First Time In 13 Years, Still Very High

It seems like 13 years of continuous stratospheric growth was kinda hard for Apple Inc to keep up. In their quarterly earnings call the Cupertino tech company – and creator of products you may have heard of – announced that their revenue had fallen thanks to a drop in sales of the iPhone.


They still made an eye-popping US$50.6 billion in revenue, which is probably more than anyone you know makes in a quarter.
iPhone sales fell 16 percent, and Apple finance head Luca Maestri claims that this is because people weren’t upgrading their phones this quarter. Which doesn’t seem to have stopped growth in the past, but there ya go. Then again, global forecasts fom analysts like Gartner have suggested that there is a global slowdown in the demand for smartphones – perhaps even to the tune of 7 percent.
Where’s Apple gonna go now? It’s clear that most of what they have at the moment can’t subsidise their insanely popular iPhone if it falters – the Apple Watch certainly isn’t doing a whole lot. Speculation rests on what new markets they might consider moving into, like virtual reality or electric cars.
Regardless, they’re still making $50 billion in revenue a quarter. I think they’re safe for a little while.
Source: Bloomberg.
Photo: Getty Images / Joe Raedle.

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