Apple’s 4Q, change in iPhone sales disclosure jar investors

04 November, 2018, 19:46 | Author: Brooke Harris
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Worldwide sales had a huge role to play as Apple recorded 61% of its revenue from it. iPhone sales were not as impressive as it sounds as Apple sold 46.89 million iPhones as compared to 46.7 million iPhones sold in 2017.

The company said it saw great response to the new MacBook Pro models launched in July, with strong double digit revenue growth driving an all time quarterly record for Mac revenue.

Recently, the sales of iPhones, iPads and Macs have gone down.

Apple shares dived over five per cent as United States markets opened today, causing the Californian company to fall below its $1 trillion valuation as investors reacted to its prediction of a Christmas slump.

When asked about how Apple plans to continue growing its services business, CFO Luca Maestri highlighted the "exponential trajectory" of all of Apple's services from Apple Music to the Apple Store to Apple Pay. The Chinese have lower incomes and are too canny to fall for Apple's marketing and Jobs' Mob was never going to drop the price enough to be a starter in India.

Additionally, Merrill Lynch analyst Wamsi Mohan downgraded shares of Apple from Buy to Neutral, noting, "We see increased risk from a weaker macroeconomic environment". Apple manufactures the iPhone SE and iPhone 6 in India which are one of its cheapest iPhones. The nearly $10 billion revenue is another record figure for the category and is expected to increase more as Apple pours in more efforts in offerings such as digital content and payments.

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While the sales of all the three major products - iPhone, iPad and Mac - either declined or stagnated as compared to the year-ago quarter, Apple's revenue increased by 20% YoY in the fiscal fourth quarter 2018; largely due to the sales of high-end iPhone XS and iPhone XS Max.

For the fiscal fourth quarter, Apple is expecting revenue of $60 billion to $62 billion, which would represent year-over-year growth of 14% to 18%. And with good reason, the iPhone has for some time been Apple's biggest revenue driver.

Apple has also been trying to diversify its revenues away from device sales.

The company also posted just a slight bump in the ever-important metric of iPhone sales, selling just under 47 million units. Looking back, there have been some quarters in recent memory where the iPhone by itself was responsible for upwards of 70% of Apple's quarterly revenue. Notably, iPhone revenue jumped by 29% year over year, a fact which is obviously attributable to consumers picking up pricier iPhone models. The decision to withhold the information was interpreted as a sign that Apple anticipates years of growth in the number of iPhones sold coming to an end, overshadowing what was a record quarter for the California-based company.

Apple, which is the world's most valuable company with an estimated value over $1 trillion, forecast that it would bring in between $89 billion and $93 billion in the current quarter.



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