Welcome to the Tech Meme Ride Home for Wednesday, July 31st, 2019. I'm Brian McCullough today.

Apple isn't selling as many iPhones, but they want you to know that that's just fine.

Samsung isn't selling as many high-end smartphones as they'd like, but seemingly no one is.

There's a new Galaxy tab. Facebook hasn't given up on their portal ambitions

and the rise of live streamed funerals. Here's what you miss today in the world of

tech. As per usual, Apple brings up the rear of the Tech Earnings Parade.

Yesterday, Apple reported Q3 revenue of $53.8 billion up 1% year over year, but iPhone revenue of

26 billion dollars, which was down significantly from $29.5 billion year over year.

Apple stock was up more than 4% this morning.

So Apple's revenue was flat,

iPhone revenue was way down to the tune of $3.5 billion and Wall Street is fine with all this?

Well, remember, Apple has been working hard to telegraph its shifting

business emphasis. Yes, for the first time since 2012 the iPhone makes up less than half of Apple's revenue.

But don't sweat it because it's all about services revenue baby.

Services revenue hit a new record in fact 11.5 billion dollars up from 10.2 billion year over year

and actually it's not just services because Apple's wearables home and Business, generated 5.52 billion dollars up 50% year over year.

So Apple Watch, AirPods, all that stuff is now almost as big a business as the Mac business.

The Mac, by the way, did 5.8 billion in revenue up from 5.3 billion year over a year and even the

iPad is coming back. 5 billion in iPad revenue up from 4.6 billion year over year.

So yes, the TLDR here is that Apple's carefully constructed narrative is actually playing out exactly as planned.

Fine, it's not all about iPhone sales anymore, but that's okay because all of these

ancillary businesses are doing great and if you think about it in a certain way all of the ancillary businesses are all built off of the iPhone or at least the iOS ecosystem.

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