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Nawal

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SELF • 1y

🔵 Apple Defies Low Expectations With Services Strength Despite a 10.5% decline in iPhone sales to $46 billion, Apple’s Q2 2024 results exceeded pessimistic forecasts. Total revenue dipped 4% to $90.8 billion, but the services segment shined, growing 14% to a record $23.9 billion, now over 25% of sales. With 2.2 billion active devices and 1 billion paid subscriptions, services are a cash cow. Apple also announced a massive $110-billion buyback, driving shares up 7%. For startup founders, Apple’s resilience underscores the value of diversifying revenue streams beyond flagship products. Building recurring services revenue can provide a cushion during sales slumps and open new growth avenues, exemplifying the importance of continually evolving business models.

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