Apple's incredible 51-quarter growth run has finally come to an end


Apple's earnings Tuesday was an overall miss, driving down its shares 8% in after-hours trading.


As expected, Apple reported its first year-over-year revenue decline since 2003. That means its incredible 51-quarter growth run has finally come to an end, as this chart from Statista shows.

During that time span, Apple's quarterly revenue grew from $1.5 billion in fiscal third quarter of 2003 to $75.9 billion in last year's holiday quarter. A big part of the decline has to do with iPhone sales, which dropped for the first time in the history of the device last quarter.

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And don't expect things to get better anytime soon: Apple's guidance for the third quarter was also significantly lower than Wall Street expectations, indicating that the iPhone business might have one more rough quarter before it picks up again.




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