Apple has always been a leader in the global consumer electronics field. In addition to the sale of hardware products, it also has a business model of software services, which has grown year after year to become another important source of revenue for Apple. In 2022, Apple's total annual revenue performance only grew slightly by 0.7% compared to 2021, and in the first quarter of 2023, revenue declined by 4.6%. The main reason for this is that the Mac and iPad divisions experienced significant annual revenue declines, so even if the handset and service divisions experienced growth, they still couldn't avoid the fate of the overall revenue decline. As shown in Figure 1

Figure 1. Apple's Revenue Change by Sector (Unit: $M)

Source：Apple；Collated by Jipu Industrial Trend Research Institute