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COMING UP:Share Opener Variant 1

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00:00:00
the once mighty iPhone continues to show its age apple Tuesday announced the biggest quarterly sales drop ever force most profitable device iPhone sales tumbled a bigger than expected seventeen percent last quarter demand for the smartphone still hampered in China as it comes up against cheaper homegrown competition from while way and show me rotors apple correspondent Stephen Ellis the iPhone a shiner still tremendously important apple even as a smartphone business ventures and the iPhone becomes a smaller components of apple's revenue picture overall it's still V. biggest component and even though China is not apples single biggest market it's one that they cannot afford to lose apple suffered a company wide drop in both sales and profits during the quarter although the declines were not as bad as feared lifting the stock in after hours trading investors also took comfort as apple continues to make games with his services business the one lingering question is that we still don't really know what the make up of that is so it's got a lot of businesses that are really quite different from each other there's the apps store %HESITATION which is mostly subscriptions are purchases of apps but then there's things like apple music that's essentially a content subscription so even though the business is very good right now and it's growing investors really want to know more about the exact make up of it that unit posted a sixteen percent jump in sales and apple is investing heavily to keep that number growing it unveiled a new suite of services in March including a star studded upgrade to apple TV a credit card and a gaming service all aimed at pulling in new cash to offset declining iPhone sales as much cash cow apple isn't expecting Eiffel sales to decline much further it gave Wall Street an upbeat outlook on the future hoping price cuts in China and signs of easing tensions between Washington and Beijing