Apple's Strong Q2 Earnings Driven by Record iPhone Sales and Services Revenue

Apple reported better-than-anticipated second quarter earnings, with revenue of $94.84bn, boosted by record iPhone sales and an all-time high in its services division. Despite a 30% decline in Mac sales, the company's premium smartphone business may be insulated from concerns about deteriorating consumer confidence and a worsening macroeconomic outlook. CEO Tim Cook said supply-chain snarls have vanished, and the company is eyeing growth in India as sales in China dropped 2.9%. Apple's solid quarter highlights the durability of the company's brand and its ability to navigate through the challenging environment.