INSUBCONTINENT EXCLUSIVE:
Apple iPhone sales still make up over half of its quarterly revenues, but they are slowly shrinking in importance as other divisions in
the company pick up speed.
Apple stock remained largely unchanged after-hours following the release of its Q4 earnings
The company delivered earnings per share of $3.03 versus the street estimate of $2.84 on revenue of $64 billion compared with expectation at
$62.99 billion.
The big story continues to be major growth in Services, iPad and Wearables while iPhone and Mac sales continue to shrink
year-over-year.
As you&ll remember, Apple no longer reports unit sales of its iPhone, Mac and iPad lines, something that is largely the
result of declining unit sales and higher average selling prices
Services, Wearables and Other, and iPad saw year-over-year gains, while the iPhone and Mac lines are still seeing revenue slumps.
iPhone
sales were down 9% year-over-year, to $33.36 billion
Services were up 18% YoY, to $12.5 billion
Mac sales were down 5% YoY, to $6.99
billion
&Wearables, Home, and Accessories& were up 54% YoY, to $6.52 billion
iPad sales were up 17% YoY, to $4.66 billion
The company is
continuing to add to some of its highest-growth businesses
The company announced the release of a new high-end set of AirPods yesterday, which will likely increase average selling prices among its
The company also has a number of paid services, including Apple TV+, that will be launching soon.
