AThe company posted quarterly revenue of $81.8 billion, down a per cent over last year. While that might not seem bad, Apple is used to announcing huge profits and what is more alarming is that the company’s total sales dropped from almost $83 billion in the June 2022 quarter to just under $82 billion this year. 

Apple's iPhone cash cow continued to die . iPhone revenue was $39.7 billion, down two per cent year-over-year. The user base is still growing so it seems users who bought last year are not buying the new models. This could be because the new models are pretty much the same as the old ones, and people have better things to spend their money on. 

Mac sales were down seven per cent ear-over-year making $6.9 billion in revenue. Mac revenue dropped 31 per cent in the March quarter. iPad venue in the April-to-June period was $5.8 billion, down 20 per cent year-over-year.  For September, Apple expects Mac and iPad sales to see double-digit dips from the same period in 2022, it did not say why, but we suspect that Tim Cook has sacrificed a ram on the unmarked grave of Steve Jobs.

What really saved Apple's bottom line was not its hardware but its services division which increased from $19.4 billion to $19.9 billion.

The Tame Apple Press's response to the figures were that "things could have been a lot worse" and they cited analysts who a few months ago expected problems with Apple shares. However, what they ingored was that the results, particularly for he iPhone were worse than the cocaine nose jobs of Wall Street predicted.  Things can always be worse.