Apple’s latest earnings show the Mac slumping and services soaring

An image of the M2 MacBook Air.
Photo by Becca Farsace / The Verge

Apple surpassed Wall Street expectations and said it had reached an all-time high in services revenue and set a new March quarter record for iPhone revenue in a report on its second quarter earnings on Thursday. The numbers show continued demand for the iPhone 14 lineup even as substantial upgrades (including USB-C connectivity) approach this fall. But Apple’s other divisions, including Mac and iPad, were down year over year.

“We are pleased to report an all-time record in services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” CEO Tim Cook said in the company’s earnings release. He told CNBC in an interview that, unlike…

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