Apple has a problem it prefers to ignore. Their new revenue records prove them right

True to its listing one month after the close of the quarter, Apple has already communicated its revenues for what they call the first quarter of 2024 and which corresponds to the last three months of 2023. These are always important months when the launch of its flagship product takes place: the iPhone 15. Especially when we compare it with the last quarter of 2022 where the figures were not as promising as expected.

Some experts are predicting revenues similar to last year and while, in essence, it doesn’t change much, it does. improved it by increasing its total turnover by 2%. Within this growth, there is notable positive data for iPhones and Services, while on the other hand, there is negative data for Macs.

Apple confirms it has a new right eye with services

It is worth starting by saying that Apple reported revenue of $119.575 million among all its products. Corresponding, as we said at the beginning, to the months of October, November and December. This is an exact 2.02% increase over the same period of 2022, which Apple calls Q1 2023.

In the document shared by Apple, no figures are given on the number of units sold for each device, although they show an interesting division by branches in which we see how All product categories are growing except Macs, wearables, home devices and accessories.

In recent months, Apple has seen an interesting increase of 8.5% in terms of iPhones, once again by far Apple’s premier category. This also goes hand in hand with services, the price of which increased in October. This area continues to grow and the firm led by Tim Cook boasts of having obtained an increase of more than 10% compared to the previous year, also marking more and more differences with other categories.

The surprise comes with the iPad And, although its growth has not been too great, registering only an increase of 0.5%, the truth is that it is at least striking if we take into account that the company has not launched only one new model in 2023.

At the other extreme are Macs, which curiously were the last products renewed by Apple last year. However, these continue to have negative dynamics and the decline this quarter compared to the previous year was 25.5%.

We also see a significant decline in wearables, home and accessories, a category in which Apple includes various devices such as AirPods, HomePod, Apple Watch and accessories like a simple iPhone case. Here they found a drop of 12.8% for which there is no obvious explanation. One might think of the legal issues in the United States with the Apple Watch’s oxygen sensor, but the truth is that it only started to have an effect at Christmas, which seems insufficient to provide this data (this will surely be more visible in the following income report).

China is stifling Apple… again

Apple’s revenue distribution also refers to the distribution of revenue by territory. There is no surprise to see that America is the continent where they obtain the highest incomes, although it is not the one that grows the most, since Japan is the country in which they obtain the highest percentage of growth hovering around a 13% increase compared to the same period in 2022.

In Europe, we also see good data from Apple, with revenue up almost 9% from the previous year. However, the most notable is the new decline in China with a drop of almost 15%. And the truth is that there have already been several signs that things are not going well in these countries for Apple, such as having to lower iPhone prices so that they are the best sellers.

This, yes, This isn’t the first time we’ve seen Apple fall in China either.. Without going any further, in the same report from last year, they had already experienced a drop of almost 8%, in any case lower than that observed during the last three months of 2023.

Apple has already exceeded 2.2 billion active devices

In the earnings report, the company’s CEO also spoke. Tim Cook, who posed this week for the first time with the Vision Pro, was generally satisfied with the results obtained this quarter. He was particularly proud of the figures obtained with the iPhone and with the services, since the latter once again broke their own revenue records.

Another fact that Cook points out, and which is also a record, is that Apple already has a base of 2.2 billion active devices worldwide. The CEO did not specify any quota to know what share corresponds to each product, but knowing the iPhone as a star device, it is understood that a majority of them are smartphones.

In statements to CNBC, Cook also showed a fact that may seem minor, but has a lot of meaning in this increase in income and that is that They counted one week less than in the first quarter 2023 earnings report. On this occasion it was 14 weeks and this time it was 13, giving greater value to the overall increase of 2.02%.

It is expected that in the coming hours there will be press conferences in which Tim Cook and Luca Maestri, Apple’s financial vice president, will participate. They are likely to be asked questions about future expectations and especially Vision Pro. Apple already has everything ready to launch its long-awaited space computing headset today and while the leaked numbers are good, it remains to be seen how much or not they help increase revenue in the next report.

More information | Apple Newsroom

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