Apple's revenue dropped 13%, down from $58 billion y-o-y, as, it seems, iPhone sales were not as strong as previously, and this is the first time since going back to 2003 that it posted a fall.

It still sold over 50 million iPhones in the quarter, but was down from over 60 million previously.

China was accounting for strong growth of iPhone sales, but that's tailed off slightly.

Apple users are loyal, but how many iPhones can you have!

Has Apple reached saturation?

April 26, 2016 — Apple® today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarter’s revenue. Apple Q2 2016, $50.6 billion and Quarterly net Income of $10.5 billion [apple.com]