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.
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.”
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.
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.
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.
Source : Genk