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The Morning After: Apple’s record service revenue couldn’t make up for falling hardware sales

Photo by: Engadget

After the last few years of nonstop growth, Apple reported revenue of $117.2 billion for its first fiscal quarter, which is five percent down year over year, marking the first time Apple's revenue has dipped since 2019. That said, the company set a revenue record of $20.8 billion in its Services business and hit over two billion active devices globally. CEO Tim Cook said three things hit revenue: the...

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