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Apple's Services Growth Fuels Record Profit Margin
Apple reported record-high gross margin of 46.9% in its fiscal first-quarter earnings report, driven by a flourishing services business that reached $26.34 billion in revenue, offsetting a slight decline in iPhone sales; total revenue reached $124.3 billion, a 4% increase year-over-year.
Apple's Services Growth Fuels Record Profit Margin
Apple reported record-high gross margin of 46.9% in its fiscal first-quarter earnings report, driven by a flourishing services business that reached $26.34 billion in revenue, offsetting a slight decline in iPhone sales; total revenue reached $124.3 billion, a 4% increase year-over-year.
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