Should ‘peak iPhone’ make Apple terrified about the future? [Friday Night Fights]

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fnf
Are you worried about Apple?
Photo: Ste Smith/Cult of Mac

Apple just reported its worst quarter in 13 years.

FNF-bugRight now, that’s just a small blemish on an otherwise darn near perfect record. But the concern is that it could signal the start of a much greater decline, ushering in an era in which Cupertino is no longer the overwhelmingly dominant force in all things shiny and aluminum.

Should Tim Cook and Co. really be worried about declining demand, and should fans be worried about Apple’s future? Or will our favorite gadget maker be back with a bang?

Join us in this week’s Friday Night Fight between Cult of Android and Cult of Mac as we throw hands (not literally) over these topics and more!

Apple revs up R&D spending amid iCar rumors

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Apple Car might be coming, but will it be special?
Apple Car might be coming, but will it be special?
Photo: Aristomenis Tsirbas/Freelancer

Apple may have reached peak iPhone this quarter after posting declining revenues for the first time since 2003, but rest assured the company is working on the next big thing. 

Tim Cook boasted about the amazingly innovative products coming down Apple’s pipeline, and the company’s latest spending figures show its throwing more money than ever at new ideas. 

Liveblog: Apple’s toughest earnings call in a decade

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Earnings_Call_2
How bad is peak iPhone?
Photo: Ste Smith

Apple earnings calls are usually a time for celebration and gloating, but for the first time in over a decade the company is poised to post declining profits.

Tim Cook warned Wall Street that this would likely happen due to declining iPhone sales. Have we really reached “peak iPhone”?

Analysts and reporters will be grilling Cook and Apple CFO Luca Maestri during today’s Q2 2016 earnings call. Investors will be looking for signs that Apple still has room to grow. And Cult of Mac will be right here, liveblogging the entire Apple earnings call — and translating the financial gibberish — when the big event starts at 2 p.m. Pacific.

Get in on the action below:

iPhone sales slump breaks Apple’s 13-year growth streak

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Q3 is usually Apple's weakest quarter.
Investors just got some bad news.
Photo: Ste Smith/Cult of Mac

Apple’s phenomenal run of growing profits has come to an end. For the first time in 13 years, Apple announced that its profits declined year-over-year during the last fiscal quarter.

The company just posted its earnings report for Q2 2016 and, as predicted, iPhone sales took a serious hit. Apple only shipped 51.6 million devices last quarter, resulting in $50.6 billion in total revenue and a quarterly net income of $10.5 billion.

Apple CEO Tim Cook admitted the company had a challenging quarter but is still incredibly optimistic, despite what many analysts are calling “peak iPhone.”

Apple set to report first quarterly revenue decline in 13 years

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money
All good things come to an end.
Photo: Ste Smith/Cult of Mac

Apple’s 13 years of astonishing growth is likely to come to a close today, with the company predicted to report its first quarterly revenue decline since 2003 — well before the iPhone, iPad and Apple Watch were even faint glimmers in Apple execs’ eyes.

The company is expected to reveal that March quarter sales fell 10 percent year-over-year to around $52 billion. Apple first warned that sales would fall in its forecast back in January, although today we’ll find out the extent of that slide.