Why Is It Important: Apple has not been insulated from a decline in smartphone demand – the iPhone maker is expected to see a 2% decline in iPhone revenue in September. This would make it the largest revenue fall in the September quarter since 2016. Most of the decline in Apple's topline in the September quarter is expected to come from the Americas. On its part, Apple has reportedly asked its suppliers to manufacture 85 million units of the iPhone 15 series this year, keeping its demand steady from the iPhone 14 series last year.