Apple has its most profitable quarter ever thanks to iPhone and Airpods
It's an iRecord plus... Apple just posted its biggest ever quarterly profit, and its first quarterly profit increase in over a year. And iPhone sales rose for the first time in a year, but a star has been born with AirPods. The branches of the Apple tree are growing:
- Wearables: Sales up 37%, thanks to AirPods Pro and Apple Watch
- Services: Up 17%, thanks to Apple TV+ and the Apple Card
- iPhones: Up 8%, iPhone sales (which made up 61% of Apple's revenue) jumped again thanks to fancy new features (like the 3-eyed camera) and cheaper prices for Chinese consumers
- iPad and Mac: Sales of the only rotting apples fell by 11% and 4%
An Apple a year... Apple shares have more than doubled over the past 365 days. That's right — over the course of 1 year, Apple has added over $725B to its value (that's more than Facebook's entire value). Apple's installed base of hardware devices — iPhones, MacBooks, iPads, etc — grew by 100M over the year to a total of over 1.5B. Plus, Apple is now worth $1.4T, #2 globally to Saudi Arabia’s oil co.
It's all about the self-serving ecosystem... Last year, Apple failed to report a record quarterly profit for the first time since the iPhone's 2007 debut. Now, with iPhone sales up again and wearables and services thriving, it's back in record-profit mode. And the success is circular. Apple's diverse products and services tie back to and benefit its core product: the iPhone (which could be 5G capable next year, likely driving another wave of upgrades).