7. Apple Reports Its First Revenue Decline In 15 Years

The questions about Apple as an industry creative force under CEO Tim Cook grew louder this year. Summing up the views of many was an Aug. 24 USA Today headline that read: "Tim Cook At 5 Years: More Profits, Less Innovation."

But in October even that maxim failed when Apple reported fiscal 2016 sales and profits that were down from fiscal 2015 – the company's first year-over-year sales decline since 2001.

Apple reported slower sales of iPhones and iPads in the fourth quarter, along with a significant decline in sales of the company's then-aging line of Mac laptop and desktop computers. (The company debuted new Macbooks in late October.)

Apple remains a huge, highly profitable company and a leader in the IT industry. But in 2016 the company just didn't seem as infallible as it has for many years.