Why Apple Is Moving in the Right Direction
There isn't much of a mystery around Apple's (NASDAQ: AAPL) success. The company's highly coveted iPhones are incredibly popular and there's a strong loyalty behind the devices, often attracting fanfare about the latest iteration and what new features or changes there will be.
But Apple's business isn't all about the iPhone. While it is a significant part of its operations, the company has been diversifying over the years and becoming less dependent on that revenue stream. It's a positive trend because it makes the company less vulnerable to challenges in that area of its business. And in the end, that will help make it a better investment.
Last month, Apple reported its fiscal first-quarter earnings. For the period ending Dec. 31, 2022, the company's sales totaled $117.2 billion -- a 5% decrease from the prior-year period. And a big reason for this was iPhones sales, which account for 56% of revenue, fell by more than 8%.
Source Fool.com
