- Tram Ho
Apple CEO Tim Cook during the iPhone 12 launch event in early October.
According to IBES data from Refinitiv, Apple’s revenue and profit for the fourth quarter ended September 26 for Apple was $ 64.7 billion at 73 cents per share, exceeding analyst estimates. volume is 63.7 billion USD and 70 cents / share.
Despite better-than-expected results, Apple shares fell more than 5% in after-hours trading on Thursday, wiping $ 100 billion from their stock market value.
Even as booming Mac and AirPods sales drove higher sales and overall profits than analysts had expected, iPhone sales fell 20.7% to 26, 4 billion USD.
Investors predict lower sales from Apple’s best-selling product leaving them in worse off than expected, especially in China, where more consumers access to 5G. in America or Europe. According to a statistic from Refinitiv, in China – an important market for Apple, the timing of a late release caused iPhone 12 sales there to drop 28.5% to $ 7.95 billion.
However, in an interview with Reuters, Apple CEO Tim Cook is still “optimistic” about the iPhone 12 cycle based on market movement data of the first few days.
“5G is a decade-old kind of opportunity. And we couldn’t be happier hitting the market at the right time, at least in the US,” Cook said. “Given the early data points we saw on the iPhone 12 and 12 Pro, we’re confident we will make a strong return this quarter in China.”
Even so, according to analysts, the strategic product announcement of the iPhone 12 was delayed until October 13, a few weeks later than usual, meaning no final iPhone sales. Any opening week is included in the fourth quarter results.
In fact, Apple hasn’t released a revenue growth forecast, but Chief Financial Officer Luca Maestri said revenue from services and non-iPhone products would see double-digit growth in the fiscal first quarter. , in line with analysts’ expectations.
Logan Purk, an analyst at Edward Jones, said that “although iPhone sales will increase with this cycle, it will be disappointing, as we do not believe 5G is a compelling reason for a wave. upgrade.”
Apple shares have skyrocketed over the past two years as they diversify revenue streams to reduce their reliance on iPhones. Thursday’s incident raises the question, is Apple still heavily dependent on iPhone sales?
In fact, the iPhone is still Apple’s “strategic card”.
Tim Cook doesn’t think so! In recent years, he said, Apple has offset fluctuating iPhone sales with steady growth in its services, including music and TV streaming.
Apple’s services revenue grew 16.3% to $ 14.5 billion, compared with analysts’ estimates of $ 14 billion. At the same time, they have 585 million paid subscribers on their platforms, up from 550 million in the previous quarter, very close to the 600 million set in 2020.
However, Sophie Lund-Yates, an equity analyst at Hargreaves Lansdown, said: “Apple needs to be able to maintain the upgrade cycle, otherwise the stock price will wobble and it will fall into crisis. faith”.
Source : Genk