Apple Still Tethered to the iPhone, for Better or Worse
The good news is the company is finding ways to make up for the device’s slowing sales. The bad news is it has to.
Photographer: Scott Eells/Bloomberg
Apple Inc. is now exactly the company that investors slowly started to accept in recent months. Whether that is good or bad news is entirely in the eye of the beholder.
What’s clear is that Apple is having trouble increasing the number of iPhones it sells. In the company's fiscal second quarter ended March 31, iPhone units sales inched up 2.9 percent. The predictions of an iPhone “super cycle” — a resurgence of iPhone handset sales this year sparked by the remodeled iPhone X model — are officially garbage. There is no super cycle, as almost everyone outside of Apple headquarters has come to acknowledge.