For the first time since 2001, Apple has reported sales decline in its business. This is fifteen years after the company released its iPod, followed by a sleuth of other ground-breaking and innovative products that sent sales and revenue into the sky, quarter after quarter.
There was a subsequent 2.5 percent decline in stock after the revenue announcement was made. But Apple is convinced that this is just a phase as there are pointers to a brighter future.
Apple is expected to release updated MacBooks later this week, and the challenges with Galaxy Note 7 will see high end Android users give the iPhone a shot. Moreso, the holiday quarter is a few days away, Apple expects the iPhone 7 sales to go up then. Apple is projecting that it will post sales of $76 billion to $78 billion in the upcoming quarter, up from $74.8 billion a year earlier.
In the end, this sales decline may prove to be a blip and not a new norm. But this cannot change the fact that Apple’s 15 year streak has come to an end.