Apple Sales Suffer on Fewer iPhones for Less Money

The transcript discusses the slowdown in iPhone sales, marking the first year-on-year decline and a shift towards cheaper models. This has led to investor concerns about Apple's growth, with Tim Cook suggesting it's a temporary issue. Apple may consider acquisitions, a significant change from its usual strategy. The lack of new products in the pipeline is worrying investors, though services revenue offers some hope. Overall, the focus remains on how Apple will drive growth amid these challenges.

What factors are contributing to the significant slowdown in iPhone sales?

How is Tim Cook attempting to reassure investors about the future of Apple?

What concerns do investors have regarding the macroeconomic environment and smartphone growth?

What potential strategy did Tim Cook suggest Apple might consider to address its challenges?

In what ways could Apple's services revenue help mitigate the impact of declining phone sales?