For the first time in 13 years Apple has reported a decline in their revenue. The fall in revenue is down to a drop in sales of the incredibly popular iPhone. The iPhone accounts for approximately two-thirds of Apple’s revenue so if iPhone sales drop then the Apple share price will drop which is exactly what has happened.
A big part of the problem is coming out of China. Apple made $18.4bn in the 2nd quarter of 2015 but this has dropped right down to just $12.5bn in the last 3 months.
As you might expect Apple are staying upbeat and they are hoping for big things from the iPhone 7 when it launches in September. Online bloggers reckon it will be waterproof, dustproof and might even have a new and improved home button.
The clever people at Apple are also working on an electric car, some sort of virtual reality device and with $233bn in the bank only a fool would write Apple off so watch this space!
Despite some macro economic problems in China the iPhone is still a massive seller and here at Better Buy Insurance we are always happy to insure any make or model of mobile phone.