Apple has warned investors that its future suite of new products may never be as profitable as the iPhone.

The company issued the warning in a recent securities filing as part of a list of “risk factors” that could weigh down the business.

Apple, which was recently supplanted by AI chip maker Nvidia as the world’s most valuable company, last week reported 6% increase in revenue for the most recent quarter though it said that it expects weaker growth during the current quarter.

 

Apple has warned investors that its future suite of products likely won't be as profitable as the iPhone.

“New products, services and technologies may replace or supersede existing offerings and may produce lower revenues and lower profit margins which can materially adversely impact the company’s business…,” Apple said in the Sept. 28 filing with the Securities and Exchange Commission.

Apple’s warning was contained in its most recent 10-K regulatory filing – an annual report on a company’s finances that publicly traded companies are required to submit to the SEC.

In years past, Apple was not as direct on its 10-K filing when discussing new products and their potential profitability, according to Financial Times.