Apple’s Service Revenue Offset Decline in iPhone Sales in Q3

  • Apple’s Q3 earnings showed a decrease in iPhone revenue to $39.67 billion, yet an increase in service revenue from $19.6 billion to $21.2 billion year-over-year.
  • CEO Tim Cook revealed that the services sector saw the highest revenue ever in the June quarter, helped by over 1 billion paid subscriptions.
  • Apple has also been working discretely on generative AI for years, integrating it into every product, and plans to demonstrate its Vision Pro headset in stores.
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