Apple’s (APPL) iPhone 7 and 7 Plus are its flagship smartphones and most important products, accounting for the majority of the tech giant’s revenue. So it makes sense that the slightest drop in sales would set off alarm bells for Apple investors. And that’s exactly what’s happening right now. In fact, the company’s stock slipped 2.8% in after-hours trading.
Apple sold 45.5 million iPhones in Q4 2016, a decline from the 48 million iPhones Apple sold in that quarter last year. In fact, Apple has seen year-over-year declines in iPhone sales for three consecutive quarters.
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