Apple’s quarterly revenue drops for the first time since 2003
Apple earlier today released its Q2 2016 earnings and the results might leave investors a bit wary. When the dust settled, Apple reported $10.5 billion in profits on the back of $50.6 billion in revenue. And while those figures are certainly impressive, they are markedly lower than what Apple reported during the company's second fiscal quarter in 2015 when it posted $58 billion in revenue.Notably, this marks the first time that Apple's quarterly revenue experienced a year over year decline since 2003.Product wise, Apple sold 51.2 million iPhones, a significant drop-off from the 61.17 million iPhones Apple sold during the same quarter a year-ago. In fact, Apple's most recent quarter represents the first time that quarterly iPhone sales have dropped off. To read this article in full or to leave a comment, please click here