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Apple Sales Drop For First Time In 13 Years

Apple reported a drop of over 12 percent in sales in the last quarter. Apple sales have fallen for the first time since 2003

Does this spell danger for the tech giant? We are pretty sure it is a small bump on Apples road to new and innovative products towards the end of 2016.

Meanwhile, Apple sales are still piling up a fortune. The company now has a cash ocean of $233bn, more than all the foreign currency reserves across the world and more than the Czech Republic, Peru and New Zealand make in gross domestic product (GDP) a year.

In Apple’s quarterly sales statement, it also confirmed iPad and Mac sales have also stalled compared with the same period last year, with revenue falling from $58 billion to $50.6 billion.

apple sales
Trouble in paradise? / CEO Tim Cook – Apple

However, a reason for the drop could be that mid-generation phones don’t sell as well as a brand new iteration (iPhone 5 vs iPhone 5S, iPhone 6 vs iPhone 6S etc.)

Another reason can be attributed to the fact that most people who want an iPhone already have one, compared to a few years ago.

“The iPhone 6 is an anomaly, and so it creates a very difficult comparison for us,” said Apple’s chief financial officer, Luca Maestri.

“Despite the pause in our growth, our results reflect excellent execution by our team despite strong macroeconomic headwinds in most of the world,” added Apple’s CEO, Tim Cook.

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