From CNET: Apple was one of the first major tech manufacturers to warn investors that the coronavirus pandemic would impact its business. What resulted was a mixed bag, with its growing services business helping to offset its struggling hardware operations.
The iPhone maker on Thursday said it eked out a rise in overall sales during its second quarter, alleviating worries that its results would take a big hit amid the spread of COVID-19, the disease caused by the coronavirus. Still, sales weren't as strong as Apple had earlier expected, and the company didn't provide guidance for the current period, indicating it doesn't yet have a handle on the full impact the disease may have on its business.
Apple's hardware operations have suffered more than other parts of company as the coronavirus has moved across the globe. In February the company warned that COVID-19's spread in China would hurt its flagship iPhone business, limiting both supply and sales of the devices. Fiscal second-quarter iPhone sales ultimately dropped 6.7% from a year ago, to $28.96 billion. Sales of Macs and iPads also fell in the March period, down 2.9% and 10%, respectively.
Apple's services and wearables segments, which include Apple Arcade and AirPods, notched all-time and quarterly records, respectively. As more people sit at home, they're seeking out services like Apple TV Plus and buying more games in the App Store. Services revenue jumped 17%, to $13.3 billion, while sales from wearables, home and accessories soared 23%, to $6.3 billion.
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