Apple's Earnings Fell Year-Over-Year: 3 Reasons Why It's Still a Buy

Apple Inc (NASDAQ: AAPL) has just reported its full-year 2019 earnings, and at first glance, it appears all is not well. Apple's flagship product, the iPhone, saw sales decline by nearly 14% year-over-year. The iconic product now forms 54.7% of total revenue, down from 62.1% a year ago. While sales of Mac and iPads were up year-over-year, it was insufficient to match the fall in revenue for the iPhone.

There's more bad news -- Apple's gross margins contracted by 0.5 percentage points while net income declined by 7.2% year-over-year, chiefly due to higher levels of research and development expenses and SG&A costs. 

However, there's a silver lining to this seemingly dismal set of earnings. Here are three reasons why this tech giant remains attractive.

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Source Fool.com