Apple sales show 13 percent fall for first time in 13 years
Apple revenue figures have dropped worldwide for the first time in 13 years - suggesting the iPhone may have finally reached its peak.
New figures released tonight show that in the last sales quarter, purchases of the iPhone have stooped by 13 percent.
Apple says it sold 51.2 million iPhones in its second fiscal quarter - 10 million less than the same time last year.
The results - taken from the past three months - are a considerable fall since the last quarter in which Apple made a profit of $18.4 billion.
Shares in Apple are also down by 5 percent.
This news comes as chief executive Tim Cook hinted in January that sales would decline in 2016.
The tech giants predicted sales figures to drop as much as $8 billion (£5.4 billion) this year.
And even world famous analyst Ming-Chi Kuo from KGI Securities suggested Apple's success could be on the decline.
The tech expert - nicknamed Ming the Merciless - said in the worst case scenario, sales would drop to even lower than they were in 2014.
This caused speculation that the billion dollar company could have reached its peak with the iPhone.
In January, Apple has announced it made $18.4 billion (£12.8 billion) profit in the last quarter of 2015 - more than any other company in history.
Part of the reason the company made the astronomical amount of cash is because it released two new iPhones in September 2015.
Sales of the handsets during the Christmas period also helped Apple break its own record.
But if the rumours about the iPhone 7 are to be believed, perhaps it will be the model to pull Apple from its slump.
One of the most persistent rumours is that Apple may drop the iconic Home button on its next device.
And a new leak seems to back it up, with supply chain sources in China telling DigiTimes that the handset will have a touch-sensitive digital button instead of the traditional physical button.