Apple Profit fell 13 percent due to weak iPhone sales
In quarterly results, Apple mentioned its profit hits first time since 2001 due to weak iPhone sales.
Apple profit fell 13 percent from the year-ago period to USD 10 billion while overall revenues increased one percent to a better-than-forecast USD 53.8 billion.
However, Apple delivered stronger-than-expected results from services, its shares rose more than four percent in after-hours trade.
As iPhone sales have weakened, Apple has been shifting to earnings from digital content and services sold to the legions of fans of its devices.
Despite the decline in sales and profits, the CEO of Apple Tim cook said, "This was our biggest June quarter ever driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac and signific...