How iPhone brings good and bad news for Apple

Every three months there’s a sense of anticipation when Apple announces its quarterly results. Questions like how has the Cupertino-based tech giant fared? Or is the iPhone doing well or it’s in a slump? Apple reported its quarterly results and the iPhone brings both good and bad news for the company.

Apple reported a quarterly revenue of $58 billion which is 5% down when compared to the same quarter in 2018. The iPhone, on the other hand, contributed $31.05 billion to Apple’s total revenue. Now this number is also down compared to last year as revenues from iPhone in the corresponding quarter last year stood at $38 billion.

These numbers do show that the iPhone isn’t doing as well as it used to but it continues to be the star in Apple’s portfolio. The revenue from iPhone still contributes a lion’s share to the Cupertino-based tech giant’s coffers. In this quarter, 53% of Apple’s total revenues came from the iPhone.