Apple's Q3 iPhone Revenue Declines, Greater China Only Region with Decline

iPad and services were strong, causing only a minor after-hours drop of over 1%.

CEO Tim Cook expressed long-term confidence in the Chinese market, noting that the iPhone's installed base in mainland China and Greater China hit a record high, with iPhones ranking among the top three in sales in Chinese cities.

Apple acknowledged increased spending on AI, viewing it as another reason for new iPhone purchases.