Apple Shares Climb as Company Outlines Life Beyond the iPhone
- All major products other than the phone saw revenue increases
- Executives say subscriptions will top half a billion by 2020
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Apple Inc. convinced investors that life beyond the iPhone won’t be so bad, sparking a relief rally in the stock.
The Cupertino, California-based company reported its first holiday-quarter sales decline since 2001 as revenue from the iconic handset tumbled 15 percent. But Chief Executive Officer Tim Cook and Chief Financial Officer Luca Maestri focused on a growing services business and rising sales of other devices.