Apple's Q3 Profits Down 27pct, Revenue of $42.4 billion

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Apple's continued growth has stalled a little, with the news that its iPhone sales have slowed. The smaller iPhone SE seems to be bucking the trend.
It's likely that the new iPhone launch will help sales of the flagship smartphone, and I doubt this is a serious decline, but just a saturation of the market, strong competition, and an adjustment to market conditions in China, where the company had seen very strong growth in previous years.

CUPERTINO, California — July 26, 2016 — Apple® today announced financial results for its fiscal 2016 third quarter ended June 25, 2016. The Company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. These results compare to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 39.7 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue. Apple's Q3 Profits Down 27pct, Revenue of $42.4 billion [apple.com]