Apple stuck on iPhone 14 in quarterly results dominated by iPads and services

Apple releases first fiscal quarter (Q1 2023) results in the midst of a maelstrom of layoffs and not-too-optimistic news for technological. In the case of the people of Cupertino, it does not correspond to the calendar year, but to October, November and December of the previous year.

The one that is usually the best revenue quarter for the firm (new products are also added to the Christmas campaign). this time it wasn’t. And this is significant, as it comes after Californians broke their own all-time record in the first quarter of 2022 and 2021.

not in this way Apple generated $117,154 million in revenue during the last three months of the year. This is 5% less compared to the same quarter last year.

Apple creates a complex landscape

Tim Cook, CEO of Apple, stressed the “complex environment”. cladding technology. The results leave some data worse than Wall Street expected, cutting the company’s stake after the announcement. By product category, revenue is as follows:

• iPhone: $65,775 mln (-8% compared to Q1 2022).
• Poppy: $7,735 million (-29% compared to Q1 2022).
• ipad: $9,396 million (+30% compared to Q1 2022)
• Wearable goods, Home and accessories: $13,482 million (-8% compared to Q1 2022)
• Services: $20,766 million (+6% compared to Q1 2022)

A drop that is noticeable in the case of Apple smartphones, which with the iPhone 14 Pro have undergone the biggest redesign in recent years. Luca Maestri, the firm's finance manager, also points to serious supply chain problems as one of the variables to consider in these numbers.

It's not, the iPad is one of the categories where you see green shoots. The increase in revenue by 30% compared to the previous year is not insignificant and indicates a latent interest in this segment. Except, For the first time, a tech company's revenue exceeds $20,000 million in the Services category. in the quarter.

Article in development.