Apple iPhone revenue drops 12% but Wearables are the star of Apple’s fiscal Q3

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Apple this afternoon reported its fiscal third-quarter earnings covering the three month period from April through June. The company said that iPhone revenue hit $25.99 billion during the quarter, down from the $29.47 billion it recorded one year ago. That is a 12% decline on an annual basis and was lower than Wall Street expectations. For the nine months ended in June, Apple rang up $109 billion in handset revenue versus the $128.1 billion it took in over the same period in 2018.  It was the first time since 2012 that Apple’s iPhone sales failed to make up 50% or more of the firm’s revenues …

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