At 20:51 GMT, Apple Inc is trading at $184.28, up $11.25 or +6.50%.
Product-specific revenue information
While iPhone sales slowed, Mac sales saw modest growth of 4%, driven by new MacBook Air models powered by the M3 chip, which contributed $7.5 billion. dollars. In contrast, iPad revenue fell 17% to $5.6 billion, hurt by the lack of new launches since 2022. However, services emerged as a robust sector, growing 14.2%. to reach $23.9 billion, highlighting the strength of Apple’s subscription services and digital content. .
Strategic moves and future prospects
Comments from CEO Tim Cook to CNBC indicated cautious optimism. Cook explained the year-over-year decline as a result of high base effects from lagging iPhone 14 sales during the pandemic. Taking these anomalies into account, Cook suggested that underlying growth trends remain positive. Additionally, Apple’s strategic direction includes announcing new products, particularly in AI and upcoming iPad releases, signaling continued innovation and market expansion.
Regional performance
China, Apple’s third-largest market, saw an 8% drop in sales to $17.8 billion, although that figure remained higher than expected, which could ease concerns about Apple’s position in the face of local competition. Cook’s remarks highlighted surprising growth in iPhone sales in China, suggesting resilience in a tough market.
Preview Apple’s Q2 Fiscal Results
Looking ahead, Apple remains cautious, refraining from providing detailed guidance but forecasting low single-digit growth for the June quarter. This outlook, coupled with ongoing product developments and strategic market maneuvers, suggests a balanced view with upside potential from new product adoption and service expansion.
