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Apple Tops Earnings Estimates as Services Revenue Soars, but iPhone Sales Lag
Apple Inc. (AAPL) reported its fiscal first-quarter earnings, surpassing analyst expectations as services revenue surged
Apple’s revenue for the quarter rose 4% year-over-year to an all-time high of $124.3 billion, aligning closely with analyst estimates from Visible Alpha. A key factor in the iPhone’s underperformance was declining sales in China, where competition from domestic manufacturers like Huawei and Vivo has intensified. While iPhone sales pose a near-term challenge, Apple’s strong performance in services and other hardware segments suggests a resilient business model capable of sustaining growth in a shifting market landscape.
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