“Last year Apple notched a record $18 billion in profit during [the holiday] period, the largest ever recorded by a single public corporation,” Ben Popper reports for The Verge. “This year the company topped that, generating a profit of $18.4 billion on $75.9 billion in revenue during the last three months of 2015. The average sale price for its best selling devices, the iPhone, iPad, and Mac, was also a record high, boosting Apple’s margins to 40.1 percent.”

“But, the company also predicted that revenue for the second quarter of 2016, which for Apple is the first three months of this year, would come in between $50 and $53 billion,” Popper reports.That is down from the $58 billion in revenue it booked during the second quarter of 2015, and would mark the first year-over-year revenue decline for Apple in the last thirteen years.”

“On today’s call with investors, Apple CEO Tim Cook started off by congratulating his team on another record quarter. He then segued to discussing the headwinds Apple faces from the volatile environment in the global economy, and the weakening of most foreign currencies against the dollar,” Popper reports. “Apple’s growth rate, Cook noted, would have been 7 to 8 percent higher without these currency headwinds.”

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