Apple’s results: services and Mac in good condition, iPad and iPhone at half-mast


As every quarter, Apple publishes its financial results. For the period from January to March, the company estimates it earned at least $90.8 billion, compared with $119.6 billion in the previous period and $94.8 billion in the same period last year. Unsurprisingly, the jackpot is still won by iPhones, which still account for 51% of Apple’s revenue. Led by Tim Cook since the departure of Steve Jobs in 2011, it currently weighs nearly three trillion dollars on Wall Street, not far from Microsoft’s valuation.

Unsurprisingly, services continue to grow, with $23.9 billion generated over the period. Among those that Cupertino is currently launching on the market, we find in particular Apple Music, a direct competitor to Amazon Music and Spotify, or even AppleCare+ insurance to protect the iPhone against screen breakage. Apple also offers on-demand games with Apple Arcade, as well as an alternative to Netflix and Prime Video with Apple TV+. Despite everything, the offer would still be hard to convince, right in the face of the giants of the sector, and despite the fact that many established players have been hired to tip the scales.

Growth is also expected for Mac computers, but not on the iPad sales side. Perhaps it is the fault of the absence of a new model released for more than a year? Anyway, the May 7th keynote should be an opportunity to make amends. We’re really expecting a 12.9-inch iPad Air and an OLED iPad Pro with an M4 chip.

Profit on the rise

The results revealed by Apple also let us know that its gross profit margin is also in great shape, with $46.6 billion recorded in the second US fiscal quarter of 2024 (first quarter here). By comparison, this number reached $44.3 billion in the same period in 2023.

To achieve such performance, Apple does not hesitate to charge its devices much more expensively than the competition. Analysts estimate that the company allows a margin of up to 40% on some products, which is not negligible.

iPhone sales data

With $46 billion generated in the second fiscal quarter of 2024, Apple certainly sold fewer iPhones (-10%) than at the end of last year, but that’s logical. In fact, the company may sell more products during this period, thanks to the year-end holidays, New Year celebrations and Black Friday.

Apple currently offers more than half a dozen iPhones for sale, of which the iPhone 15 Pro Max is the most effective representative with its 5x optical zoom. New models could arrive next September, including the iPhone 16 Pro with the same photographic capacity. The iOS 18 operating system should be presented by then, during the Worldwide Developer Conference, whose opening keynote will take place on June 10 at 7 p.m. (Paris time).

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