Apple's iPhone revenue rose almost 18% to $57.6 billion in the most recent quarter, faster than total revenue's 12% rise to $114.5 billion. Services, its second-largest business at $31.6 billion, grew only 10% year over year. Apple warned gross margins will fall from 47% to about 45%, and the iPhone, as the largest revenue contributor, will see the biggest dollar margin loss. The article notes memory chip shortages could last until 2030, according to SK Hynix, and the iPhone 18 Duo starts at $1,999. Reports also suggest the AI-powered Siri and Apple Intelligence are underwhelming.
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