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By Jason Snell for Macworld
Apple’s holiday quarter of calendar-year 2018 was, by most measures, incredibly successful. Revenue of $84.3 billion, $20 billion of that profit. The second largest quarter in Apple history. And yet, the fact is, Apple’s holiday quarter was down five percent from the previous-year’s holiday quarter, and iPhone revenue dropped 15 percent year-over-year. And when the iPhone is hurting, Apple is hurting.
Here are some observations from Apple’s financial results for its fiscal first quarter of 2019 and Tuesday’s customary hourlong conference call between Apple CEO Tim Cook and CFO Luca Maestri and a gaggle of Wall Street financial analysts.