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Apple’s Q4 services revenue surges, but a regulatory fine takes billions off its profits

The news: Apple’s services business is driving revenue forward, accounting for more than a quarter of its $94.9 billion revenue in Q4.

  • iPhone sales reached $46.2 billion, up 5.5% YoY. But reports of declining overall sales in China brought Apple shares down 1.3% the day after it reported its earnings.
  • Wearables revenue dropped 3.3%, which could be due in part to declining sales of its Vision Pro headset.

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