Apple posted its fourth consecutive quarter of year-over-year sales declines, with $89.5 billion in sales for the three months ended September 30. Although this was a 1% decrease from the same period last year, it was in line with analysts' expectations. Despite the sales dip, Apple's net income for the quarter increased by nearly 11% to $22.96 billion, surpassing analysts' projections. Revenue from Apple's products segment, particularly Mac and iPad sales, declined by more than 5% year-over-year, but iPhone revenue increased by 3% to $43.8 billion. Analysts have expressed concerns about the performance of the iPhone 15, as it featured minimal improvements and consumers may have fewer reasons to upgrade. However, the full impact of the new lineup won't be known until Apple reports its earnings for the holiday quarter. Additionally, Apple recently announced upgrades to its laptops and desktop computers.
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