Apple beats Wall Street’s expectations and says it has reached an all-time high in services revenue and set a new March quarter record for iPhone revenue in its earnings report on Thursday.
The numbers show continued demand for the iPhone 14 lineup even as substantial upgrades (including USB-C connectivity) approach this fall.
But Apple’s other divisions, including Mac and iPad, are down year over year.
iPad revenue was down 13 percent compared to the year-ago quarter, and Apple’s wearables category fell by 1 percent.
Apple executives explain the decline in iPad revenue primarily in two words: There’s really two reasons for that.
Cook told CNBC when discussing Mac revenue.
He cited higher service revenue and increased iPhone revenue as the main reasons
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