Apple's service business and sales growth in Greater China in the last fiscal quarter were slower than analysts' expectations, causing investors to worry about these two key markets. Although total revenue was higher than analysts' forecasts, Apple's sales in Greater China for the third fiscal quarter were 18.8 billion US dollars, which is significantly lower than analysts' estimates of 19.6 billion US dollars. Services revenue of US$30.7 billion fell short of the forecast of US$31.4 billion. Apple has been plagued by a shortage of memory chips and computer processors, which forced the company to raise Mac and iPad prices last month. Supply constraints have led to extended wait times for important computer products such as the Mac mini and Mac Studio. To some extent, the fiscal season was also the end of CEO Tim Cook. Cook will hand over management to hardware business head John Turnus on September 1. Since taking charge of Apple in 2011, Cook has promoted product line diversification and raised the company's annual sales to nearly $500 billion. Apple's cumulative increase of 23% since this year has surpassed many of its tech peers. As Apple's biggest revenue source, iPhone was the highlight of Thursday's results. The product's quarterly revenue increased 22% to $54.3 billion, higher than market expectations of $53.6 billion. Relevant data shows that demand for the iPhone 17 series launched by Apple in September last year is still steady. The company also unveiled a new low-cost model, the iPhone 17e, in March of this year. Revenue from services including Apple Music, App Store, iCloud subscriptions, streaming video, and other digital services increased 12% last quarter. For the quarter ending June 27, Apple's earnings per share rose to $2.02, higher than analysts' average expectations of $1.89.

Apple's service business and sales growth in Greater China in the last fiscal quarter were slower than analysts' expectations, causing investors to worry about these two key markets. Although total revenue was higher than analysts' forecasts, Apple's sales in Greater China for the third fiscal quarter were 18.8 billion US dollars, which is significantly lower than analysts' estimates of 19.6 billion US dollars. Services revenue of US$30.7 billion fell short of the forecast of US$31.4 billion. Apple has been plagued by a shortage of memory chips and computer processors, which forced the company to raise Mac and iPad prices last month. Supply constraints have led to extended wait times for important computer products such as the Mac mini and Mac Studio. To some extent, the fiscal season was also the end of CEO Tim Cook. Cook will hand over management to hardware business head John Turnus on September 1. Since taking charge of Apple in 2011, Cook has promoted product line diversification and raised the company's annual sales to nearly $500 billion. Apple's cumulative increase of 23% since this year has surpassed many of its tech peers. As Apple's biggest revenue source, iPhone was the highlight of Thursday's results. The product's quarterly revenue increased 22% to $54.3 billion, higher than market expectations of $53.6 billion. Relevant data shows that demand for the iPhone 17 series launched by Apple in September last year is still steady. The company also unveiled a new low-cost model, the iPhone 17e, in March of this year. Revenue from services including Apple Music, App Store, iCloud subscriptions, streaming video, and other digital services increased 12% last quarter. For the quarter ending June 27, Apple's earnings per share rose to $2.02, higher than analysts' average expectations of $1.89.