Economics
Apple Forecasts Second Sales Drop as iPhone Woes Deepen
- Fewer iPhone upgrades lead to 16% decline in shipments
- China growth stalls; Cook cites global economic challenges
Apple Feeling Pain at the End of the iPhone 6 Cycle
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Apple Inc.’s streak of 51 consecutive quarters of uninterrupted sales growth is over -- and its expansion may not resume until late this year.
A boom in demand for smartphones, music players and other electronic devices propelled Apple’s annual revenue by $227 billion in the 13 years since the last quarterly drop, resulting in a skyrocketing stock price that made Apple the world’s most valuable company.