4 Apple’s Long-Term Health Isn’t In Jeopardy
Those “macroeconomic” woes, which are outside of Apple’s control, may hurt the company — but they certainly won’t spell the end of it. Instead, it’s a good reminder that Apple is slowly transiting away from being an “iPhone company” to being a “Services company.” In a weakening global economy and smartphone market, that bodes well for its future.
Similarly, in the same revision letter sent out Wednesday, Cook pointed out that hardware sales outside of the iPhone saw 19 percent growth year-over-year. In addition, on Thursday, Apple announced in a press release that it had hit a new single-day App Store revenue record with customers spending $322 million on New Year’s Day alone.