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Apple’s latest quarterly results are in, and they’re exactly what you’d expect: the portrait of a company that’s massively profitable and successful, but whose main product is lagging behind while new product lines are growing just fast enough to make up the difference. I guess we yawn at $53.8 billion in revenue these days—that’s a record for Apple’s sleepy third fiscal quarter, but up only one percent over last year’s record third quarter.

As always, the devil’s in the details—and fortunately for us, Apple CEO Tim Cook and CFO Luca Maestri spend an hour on the phone once a quarter to provide a few little details—or as they like to say on these calls, “more color”—that can help us understand the current state of Apple’s business, or at least how Apple execs want to characterize that business.

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