An Apple a Day: How the iPhone Managed to Disappoint and Excite in 1 Week by Don Reisinger @FortuneMagazine July 29, 2016, 10:32 AM EDT E-mail Tweet Facebook Linkedin Share icons Welcome to the inaugural edition of “An Apple a Day,” our new weekly roundup of everything that happened in the Apple universe in the past week. Each week, we’ll talk about some of the most important Apple highlights, as well as those you might’ve missed. Think of it like your weekly repository for Apple news, a quick spot to catch up on iPhone, iPad, and corporate news without needing to keep a close eye on every last detail. Get Data Sheet, Fortune’s technology newsletter So, without further ado, let’s get into this week’s biggest (and most surprising) Apple AAPL news: Apple officially sold 1 billion iPhones this week, making it Apple’s most popular product of all time. Indeed, the iPhone, which launched in 2007, is one of the most popular products of all time. In a statement, Apple CEO Tim Cook said iPhone has “an essential part of our daily life.” As expected, Apple had a difficult fiscal third quarter after announcing $42.4 billion in revenue, a 15% decline compared to the same period last year. While that slightly beat the Street, the iPhone still disappointed, as unit sales fell 15% year-over-year and revenue slumped 23%. Mac sales were also down. However, in a surprising twist, Apple’s iPad revenue, which has been disappointing investors for a couple of years, actually rose 7% year-over-year as the average selling price on the tablets rose. One other bright spot: Apple’s Services business, which continues to soar saw revenue rise 19% to nearly $6 billion. Investors didn’t seem to mind Apple’s issues as they gobbled up new shares on Wednesday, the day after Apple reported earnings. Indeed, in early trading on Wednesday, Apple’s shares were up considerably and added $33.4 billion to the company’s market cap by midday. While there was a slight dip in early trading on Thursday, Apple’s shares are still up about $8 compared to where they closed on Tuesday. Prominent mobile device leaker Evan Blass cited sources this week who said that iPhone 7 preorders could begin on September 9 and sales on September 16. While Apple has not confirmed the report, history suggests that a September launch would make some sense for Apple and seems likely. Exactly when the next iPhone, believed to be known as the iPhone 7, will launch, however, won’t be revealed until early September, when Apple is expected to hold its official unveiling iPhone unveiling. Apple might have a surprising trick up its sleeve in the iPhone 7, according to another rumor. The company could be planning to launch a new Touch ID button. According to the report, which comes from well-respected Apple-tracking site Macotakara, the Touch ID button in the iPhone 7 could sit flush with the screen and use haptic feedback like a vibration to tell users when it’s being pressed. It’s unclear, though, whether it’ll sit under the glass or act like the existing button and simply be moved up to the display. Apple Car might have a new leader. According to The Wall Street Journal, former Apple senior executive Bob Mansfield, who retired from the company in 2012, is now leading Apple’s secretive “Project Titan” car project. Apple Car has been wracked with delays, according to several reports, and might not hit the road until 2021 instead of its initial goal of 2020. Mansfield is believed to be taking over to right the ship and address those delays. Speaking of Apple Car, the company might have a different plan up its sleeve than initially thought. Apple has reportedly hired Dan Dodge, who previously worked at Blackberry BBRY and worked on that company’s car software. Bloomberg is reporting that the move is part of a larger shift by Apple to focus first on self-driving car technology and then worry about getting an actual Apple car on the road. Apple is once again showing interest in original content. Earlier this week, Apple bought Carpool Karaoke, a recurring skit on the popular late-night show The Late Late Show with James Corden. The program will sit alongside Planet of the Apps, an Apple-created reality show that will focus on app developers creating programs for its many operating systems. For more about Apple’s iPhone, watch: One more thing… Cirrus Logic, one of Apple’s many suppliers, saw shares rise 13% this week after its CEO Jason Rhode all but confirmed that the next iPhone won’t come with a headphone jack. Instead, it’s believed that Apple will offer dual speakers at the bottom of its next handset and require headphone users either listen to tracks via Bluetooth or with a an adapter that would plug into the device’s Lightning port.