Everything you need to know about Apple’s huge second-quarter miss
Okay folks, this is the big one. Last year the company brought in revenue of $58 billion — and it showed its first decline in 13 years by posting revenue of $50.6 billion for the second quarter this year, missing analyst expectations on its revenue and guidance by quite a bit.
We’re parsing through all the details right now — here’s everything you need to know about Apple’s earnings report.
Apple's revenue drops for the first time in 13 years
The iPhone beats expectations — but only barely
But iPhone sales are down significantly from the year ago
Apple's stock tanks
Greater China drops off a cliff
Apple once again posts weak guidance numbers
The iPad shows surprise strength
The Mac fails to deliver
Apple's "other products" also drops quarter-over-quarter
Apple services revenue continues to grow, Apple Music hits 13 million subscribers
Apple amasses an even greater cash pile
Apple plans to return more capital to investors
What all this means