Apple achieved record revenue, bumper thanks to iPhone 14

Tram Ho

Despite the gloomy smartphone market and strong economic fluctuations, the giant Apple still achieved impressive revenue.

Apple đạt doanh thu kỷ lục, bội thu nhờ iPhone 14 - Ảnh 1.

On October 27, Apple reported revenue for the third quarter of 2022 (the fourth quarter of 2022 according to the corporation’s fiscal year) with a record revenue.

Apple đạt doanh thu kỷ lục, bội thu nhờ iPhone 14 - Ảnh 2.

According to the Wall Street Journal, so far, Apple’s business has proven resilient and even even growing in the face of a gloomy smartphone market and a volatile global economy.

Apple Chief Financial Officer Luca Maestri said in an interview: “Economic results better than we anticipated at the start of the quarter.” According to him, currency fluctuations have had a negative impact on the company. High USD exchange rate pressure has greatly affected multinational corporations, including Apple.

Mr. Daniel Morgan – senior portfolio manager at Synovus Trust Co., received “Apple is not harmed as much as we initially worried about consumer demand. Based on their positive growth, it can be said that demand for their products remains high.”

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Meanwhile, growth in Apple’s services business has slowed. Specifically, revenue from services including the App Store and Apple TV+ reached $19.2 billion, up about 5% year-on-year but lower than the year-on-year growth of previous quarters. Mr. Maestri said the company’s services segment has slowed down due to the influence of foreign exchange as well as the slowdown of digital advertising and games.

It can be said that investors are showing are increasingly concerned about a slowdown in Apple’s services business because this is an important area for the company’s diversification when the iPhone is at a mature stage (making a foothold in the hearts of customers). after the hottest growth). Earlier this week, Apple raised the prices of its Apple Music and Apple TV+ streaming services. This could help boost services revenue in the current quarter.

In a call with investors, the tech giant said next quarter sales growth is likely to be lower than expected. 8% revenue increase over the previous 3 quarter period.

Apple đạt doanh thu kỷ lục, bội thu nhờ iPhone 14 - Ảnh 4.

In Apple’s report, iPhone sales continue to account for about half of the company’s total revenue, or 42.6 billion dollars, up 9.7% year over year.

Apple’s overall revenue grew 8% from 2021 to $90.1 billion – a record for the period since May 7 to September this year. Its third-quarter net income hit $20.7 billion — another record. According to the Wall Street Journal, Apple’s total revenue, iPhone sales, and net income all beat analysts’ estimates.

In July, CEO Tim Cook said the company company has yet to see evidence in internal data that macroeconomic difficulties are affecting its iPhone sales.

Apple đạt doanh thu kỷ lục, bội thu nhờ iPhone 14 - Ảnh 5.

CEO Tim Cook.

Meanwhile, a number of other tech giants are seeing a significant slowdown in growth. Earlier this week, Microsoft, Alphabet (Google’s parent company) and Meta (Facebook’s parent company) all reported disappointing earnings, explaining the reason was global consumer demand for personal computers. decline or weakness in digital advertising.

Samsung, Apple’s top rival, also saw profits decline as its memory chip business suffered a negative impact. due to weak demand for smartphones and personal computers.

Last month, Apple released the iPhone 14 and received worldwide attention. According to J.P. analyst Samik Chatterjee. Morgan, the latest iPhone Pro models are estimated to account for 60% of total iPhone 14 sales. He said that in the past, this number has been more evenly split between the basic and Pro models for the iPhone 12 and iPhone generations. 13.

Apple achieved record revenue, bumper thanks to iPhone 14 - Photo 6.

CFO Maestri says that due to strong demand for its iPhone 14 Pro models, supply is limited. “We’re working as hard as we can to meet the level of consumer demand,” he said. He added that the company is also addressing supply constraints on the Apple Watch Ultra due to high demand.

Strong iPhone Pro line sales are expected to offset the weakness. potential in overall iPhone sales by increasing Apple’s average selling price for iPhones. Since the introduction of the Pro product line in the iPhone 11 generation launched in 2019, iPhone buyers have gradually become accustomed to higher-end Apple products.

According to Consumer Intelligence Research Partners, the average selling price iPhone average rose to $954 in the second quarter from $783 in the third quarter of 2019.

Apple’s revenue in China in the third quarter of this year was $15.5 billion, up 6 % compared to 2021 and higher than the $15.1 billion expected by analysts. However, there are also some worries about Apple’s business in the country of billions of people as the country continues to apply pandemic prevention measures.

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Source : Genk