As it turns out, iPhone sales have not been very good recently. Sales of the iPhone, its most important product, fell by a fifth in the last quarter from a year earlier. If Apple wants to retain its position as the largest U.S. company (in terms of equity), it needs to launch an iPhone that supports an ultra high speed 5g network so that it can succeed in the market again. < / P > < p > this is not an easy thing to predict, because Apple stopped disclosing iPhone sales to the outside world in 2018. As a result, analysts have to use overall revenue figures and third-party reports to try to infer the popularity of a particular iPhone model in the market. This year, it will be more difficult to infer iPhone sales because of the delay in release caused by the epidemic. < / P > < p > in October, apple began to accept orders for the new iPhone 12, which means that the latest quarter’s financial report does not include the sales of iPhone 12, because the financial report counts the sales from July to September. < / P > < p > without Apple’s official figures, analysts will have to extrapolate on their own. In the last quarter, iPhone sales fell 21% year-on-year. Does this mean that consumers have given up their purchase plans, or that consumers are waiting for iPhone, and market demand will be released in the next quarter? Apple’s sales in China dropped 29% year-on-year. Does it mean that Chinese consumers’ demand for Apple products has generally declined, or is it just because Chinese consumers are also waiting for the new iPhone 12? < / P > < p > the launch of the iPhone 12 hardly revealed any useful clues. Apple CEO Tim Cook delivered a speech in an empty auditorium, which meant that the screams from the audience at previous conferences were gone, but the company made the same commitment as before. “Every generation will have a new technology that will enable the iPhone to implement new features,” Cook said. Today is the beginning of a new era. Today, the iPhone will begin to support 5g technology. ” < / P > < p > those users who are eager to try 5g network may soon find that 5g will not change people’s lives as Apple claims. At present, no killer app can provide impressive services with 5g network. The subsidy provided by operators may be the most attractive part of 5g at this stage. < / P > < p > If iPhone sales are poor, Apple’s growth will also stagnate. In the last quarter, Apple’s total revenue increased by only 1%, with an amount of only US $65 billion. Although people working at home and students studying at home started to buy Macs and iPads because of the epidemic, all of them are buying digital entertainment services, the growth of these products can not drive the growth of Apple’s total revenue. Whether Apple can achieve sustainable growth still depends on the iPhone. < / P > < p > Apple’s service revenue (including streaming media services, in app purchases, etc.) has also increased, and the company hopes to use service revenue to make up for the gap caused by poor iPhone sales. The number of paid subscribers reached a record 585 million, up nearly a third from the same period last year. Today, services account for 22.5% of Apple’s total revenue. < / P > < p > Apple has changed from a company selling electronic products to a company with a high profit margin service business. Coupled with the share repurchase, Apple’s share price has been boosted. However, there are two disadvantages to Apple’s stock price. First of all, more and more app and game developers express dissatisfaction with the “Apple tax”, that is, Apple’s royalty on paid apps and in app purchases. Second, the U.S. Department of justice intends to require apple to use Google search engine as the default search engine on Apple devices. Currently, in order for apple to do so, Google needs to pay Apple $12 billion a year, equivalent to a quarter of Apple’s service revenue. That means Apple has almost no annual revenue of $12 billion. Although apple is also developing its own search capabilities, the new features are unlikely to bring such high net profits. < / P > < p > for the above reasons, the speed brought by iPhone 12 and 5g is the most important part of its hardware business, although Apple may not admit it. Didi Qingju bicycle has entered 150 cities