Apple is in trouble. At least based on the high expectations Wall Street has developed for the company. The company was able to beat analysts’ quarterly earnings expectations in its record first quarter results, bringing in $3.28 per share versus the consensus of $3.23. Revenue of $75.9 billion missed the estimate of $76.54 billion.

The biggest concern, however, is that revenue growth is lacking for Apple’s heavy hitters. Take a look at those highlights:

What’s more, Apple’s Q2 guidance is quite a bit lower than what Wall Street expected. The company expects second quarter revenue between $50 and $53 million, below the average analyst estimate of $55.61 billion.

And considering the previous four quarters produced 20%+ growth, with one quarter above 30%, 1.7% growth in the most recent quarter should be cause for alarm.

Apple needs innovation

Innovation is what put Apple on the map originally. Innovation is what took it to meteoric heights in the 2000s. But now, Apple’s latest product and service — the Apple Watch and Apple Music — aren’t innovative at all. At least not in the sense that the company has accomplished something no one else has.

Both markets are ones Apple moved into after its competitors. And sure, Apple’s clout and software engineering are enough to make it a leader in both markets. But neither have what it takes to replace the iPhone, iPad or Mac in terms of long-term revenue sustainability.

Additionally, sources say that Apple’s car project, “Project Titan,” has suffered some setbacks as executives have been dissatisfied with the project’s progress and have committed to a hiring freeze.