Apple’s Q1: iPhone 7 slays in a record-setting $78.4 billion quarter
One year ago, in the first quarter of 2016, Apple reported a record-breaking profit: $18.4 billion on $75.9 billion in revenue. That was great news, but setting the bar so high was a mixed blessing—Apple’s huge uptick in growth ended there, with declining iPhone sales and profits in the three quarters since. But the company…