Apple can't tell you iPhone sales are booming, so it's talking about 'services.' That's a problem. Apple is boasting about its "services" revenue in Q2. It didn't boast about iPhone sales, which declined. Which is why Apple has been telling Wall Street that "services" are an important growth category for some time.

Apple has posted its steepest quarterly decline in iPhone sales since the pandemic’s outset. The results reflect a deepening slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence.

Apple has released its financial results for the Q2 2024 quarter, with earnings beating predictions despite China iPhone fears.