But as the smartphone market matures, Apple has been looking into other areas of growth, including wearables, augmented or virtual reality, and a rumored electric car. On Tuesday, Cook did not directly address any of those projects.

“The future of Apple is very bright,” Cook said in a call with investors. “Our product pipeline has amazing innovations in store.”

Last year, it released the Apple Watch, its first major product since the iPad. The watch was Apple’s first move into wearables, and already, it has captured 13.4 percent of the wearable tech market, according to research firm Parks Associates.

From the article "Apple Revenue Declines For The First Time In 13 Years" by Wendy Lee.

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