Apple posted a mixed quarter in Q4 2017. iPhone X hit the market finally and it lifted up Apple’s ASP to a record high. However, Apple’s profitability didn’t improve. Meanwhile, iPhone shipments dropped -1% YoY this quarter. It is the first time ever for Apple to post a negative growth rate during holiday season. In fact, Apple’s global iPhone volumes have declined on an annual basis for 5 of the past 8 quarters. The outlook for Q1 2018 remains weak.
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