Apple killed it — again — but there’s one troubling takeaway from it’s Q1 2016 earnings: iPhone sales are flat.
The company sold 74.8 million iPhones, which is down from the 75.5 million that was expected. It’s only a 0.4 percent uptick versus Q1 2015 — the slowest since the iPhone was introduced in 2007.
Apple still turned a record profit for Q1 2016, though, so its fortunes don’t hinge on the iPhone; it’s just the cash cow, which some alarmists may scream is now running dry. The company brought in $18 billion in profit.
Apple is projecting its Q2 revenue to be somewhere between $50-53 billion, lower than Wall Street’s $55 billion estimate, and less than Apple’s $58 billion from Q2 2015.