Apple warns on sales, sending value below $1 trillion

05 November, 2018, 01:47 | Author: Elaine Woods
  • Apple shares sink as Xmas sales forecast disappoints investors

The iPhone still looms large over Apple's fortunes, accounting for more than 60 per cent of revenue.

Cook on Thursday called the company's problems in India "speed bumps along a very long journey" and most analysts say that the prestige of Apple's brand should allow it to claim back lost ground as Indians' spending power continues to grow. During that quarter Apple sold 46.7 million iPhones, 10.3 million iPads, and 5.4 million Macs.

FILE- In this September 21, 2018, file photo customers look at new Apple watches including the Series 4 at an Apple store in NY.

Q4 unit sales increased 20 percent year-over-year, or 18 percent sequentially.

Apple's revenue from services increased 17% YoY to US$9.98 billion. The unit sales report from Apple was used by many analysts.

Apple's unit sales stayed roughly flat for the quarter, shipping 46.9m iPhones in the past three months, but revenues were up 29 per cent, with the company's strategy of increasing prices for its most high-end devices paying off. Global sales accounted for 61% of the quarters' revenue. A simple calculation shows that on average, each iPhone sold brought Apple $793 in revenue.

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Apple introduced a second-generation iPhone X, dubbed the iPhone Xs, in September, and began shipping it to consumers at the end of that month.

Apple decided it would stop providing unit sales for the iPhone, Mac and iPad.

For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion and profits of $11.91 per share, beating analyst estimates of $264 billion and $11.79 per share.

"We were especially pleased with Mac momentum in emerging markets with strong growth in Latin America, India, West Asia and Africa, and Central and Eastern Europe", Apple's chief financial officer Luca Maestri said.

This quarter saw the reveal of the iPhone XS and XS Max, but only a fraction of those sales contribute to these numbers because of the handsets' late release date.

When Steve Jobs took a swipe at Amazon.com Inc.'s Kindle in 2009, he pointed to the online retailer's decision not to report unit sales of its reading device as evidence it wasn't selling many. Will people pay $2,000 for an iPhone? Apple hasn't launched any notable new offerings lately in this category, which includes iCloud and Apple Music subscriptions, app downloads, and iTunes video purchases. With so many users within the Apple ecosystem, the company now has the opportunity to monetize more services, improve existing services, and add new ones like Apple's Search Ad business on the App Store.

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