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iPhone sales stall while the iPad goes into a nosedive

Scratch the veneer off Apple's rosy quarter and dig into the sales data and things don't look good at all. It looks like we've hit "peak iPhone" and that the time of the iPad has come and gone.

The last quarter was an odd hit-n-miss for Apple, but the hardware sales data suggests that big trouble could be looming in the future.

See also: Is the iPhone just too darn expensive?

First, iPhone sales. Yes, strong sales, yes, record sales, but year-on-year unit sales growth is a zero, with revenue growth at 1 percent. Q1 is historically Apple's strongest quarter because that quarter includes both the release of the new iPhone and the holidays. It's a quarter that traditionally shows strong growth.

Even adding China to the launch day didn't manage to boost sales beyond the year-ago-quarter.

Yes, a strong quarter,. Yes, a record quarter, but growth has stalled, and that's worrying even if Apple sold almost 74 million units. It's starting to look like everyone who wants an iPhone already has one.

Have we hit "peak iPhone"? Apple is far from doomed, but it is facing an uncertain future for the first time in a very long time.

Things are worse for the iPad. Here unit sales have tanked by a staggering 25 percent, with revenue down by 21 percent. This is the second holiday quarter that Apple has seen a huge decline in iPad sales.

Even the iPad Pro didn't manage to give sales a kick up the rear. It's pretty clear that the time of the iPad has come and gone.

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