Key component shortages have been cited as reasons for Apple potentially missing its usual September launch date for the iPhone.
Apple reported its second quarter earnings results on Tuesday, highlighted by revenue of $52.9 billion and 50.8 million iPhones sold.
However, the gains in Apple's services business, where the overall number of paying accounts saw its best quarterly growth on record, was of much more interest.
Apple's iPhone sales fell year-on-year, with the upcoming release of the iPhone 8 possibly to blame.
American technology multinational Apple experienced yet another Chinese revenue decline in the first quarter of 2017.
Apple CEO Tim Cook and US President Donald Trump are probably as far removed from each other on the political scale as its possible for two people to be.
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As advanced manufacturing jobs are in high demand in the USA, the sector was already high on Apple's list of priorities, and Cook hopes the investment will spur even more job creation.
Apple Chief Financial Officer Luca Maestri argued that the decline was not as bad as it looked, when the peculiarities of how phone sales are calculated are taken into account.
The brand is also struggling in China a little, where sales fell almost two per cent in the face of competition from local rivals such as Samsung and Xiaomi. Although iPhone sales were 50.8 million versus 51 million last year, the latest model is costlier and analysts have predicted customers were holding out in order to purchase Apple's predicted 10-year anniversary device later this year.
Apple's gross margin hit 38.9pc, slightly ahead of analysts' average expectation of 38.7pc, despite higher prices for memory chips. The company's outlook is also nothing to boast about, and this was reflected in its stock price in after-hours trading as well.
Apple doesn't break out revenue for each of Services' individual units (the App Store, iCloud, Apple Music, iTunes and Apple Pay), but the App Store remains its biggest cash cow. That report knocked as much as a quarter off of Dialog's market value on the day. Assuming that the smallest Fortune 500 company pulled in $5.1 billion in revenue previous year, Apple's achievement in wearables is no mean feat.