Apple is still running a well-oiled moneymaking
machine despite cooling demand for its hottest
product, the iPhone.
Sales and revenue in the July-September quarter
exceeded Wall Street estimates as Apple’s
newest iPhones got off to a better start than
expected, even though the devices aren’t that
much different from last year’s models.
Apple said that revenue rose 2% from the same
time last year to $64 billion, despite iPhone
revenue dropping 9%. The company’s iPhone
sales have now declined from the previous year
for four straight quarter.