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Journalism of Courage
Apple smashed its September quarter earnings record on Thursday, thanks to the stellar performance of its iPhone 15 series, which outperformed its predecessor by a notable margin. However, the company’s phone division was the only bright spot in an otherwise gloomy report, as all other segments saw declines in revenue and sales for the fourth quarter in a row, CNBC reported.
The Mac segment suffered the most, plunging 34% year over year. Apple blamed this on the unfavourable comparison to the previous year when sales were inflated by shifting from one period to another in 2022 due to supply issues.
“I think the Mac is going to have a significantly better quarter in the December quarter,” Cook told CNBC. “We’ve got the M3, we’ve got the new products, and we don’t have the compare phenomenon on a year-over-year basis.”
The iPad and wearables segments also experienced drops of 10% and 3%, respectively. The only thing that cushioned the blow was the 16% increase in the services segment, which continued to be a consistent cash cow for the company. Cook said that every major service reached a new high, which was not surprising given the long-term growth of the services division.
Cook also expressed optimism in a press release about the upcoming holiday season, claiming that Apple had the “strongest lineup of products ever” to offer. This lineup included the iPhone 15 series and the company’s first-ever carbon-neutral Apple watch models.
