Apple’s iPhone Sales Drop Again, but Services Are a Bright Spot - The New York Times

Also see The Very Good News Buried in Apple’s Dismal Results (Time); $7.8B quarterly net income = "dismal" => expect different; also see Apple CEO Cook Explains to Slightly Perplexed Analysts ‘So Many Signs That Are Positive’ (Barron's)

"The number of iPhones sold dropped 15 percent, compared with the same quarter a year ago, and revenue plunged 23 percent. The number of Macs sold fell 11 percent, and the number of iPads fell 9 percent. And sales of the Watch, Apple’s newest product, plunged 55 percent compared with the previous year, according to the research firm IDC, which published its own assessment on Friday since Apple does not break out its smartwatch sales.

Net income was $7.8 billion, or $1.42 a share, down 27 percent.

Apple’s weak results were partly a result of the company’s position at the end of its product cycle. In September, it is expected to announce upgrades to its iPhone hardware and software, which happens every two years. Many Apple customers hold off buying a new phone in the months before a big release so that they can get the newest model."

Apple’s iPhone Sales Drop Again, but Services Are a Bright Spot - The New York Times