In the last of tech earnings report for the day, we want to talk about Apple. The first thing to know is that Apple is still not doing well but retained the top spot in the world. In their fiscal Q3, revenue fell 15 percent in the past year to $42.4b. An IDC report showed that that Samsung continued to widen its lead over Apple when it comes to phone sales and this is for the second time in a row. 343.3 million Smartphones were shipped worldwide in the second quarter of 2016 and a further breakdown shows that Apple shipped 40.4 million iPhones, representing a 15.0% year-over-year decline from the 47.5 million units shipped last year while their closest rivals Samsung shipped 77 million phones in the same period. This comes as Apple reported earlier in the week that it has sold over a billion iPhones.
Revenue from Apple’s smartphone business dropped 23 percent year over year to $24 billion. Apple made $7.8 billion in net income on $42.4 billion in revenue.