Apple dips below a $1 trillion valuation

Apple Q4 2018 Results: $62.9 Billion Revenue, 46.9 Million iPhones, 9.7 Million iPads Sold

Apple Q4 2018 Results: $62.9 Billion Revenue, 46.9 Million iPhones, 9.7 Million iPads Sold

Apple sold 46.9 million iPhones in the fiscal fourth quarter, missing analyst expectations of 47.5 million iPhones.

Apple reported another quarter of record revenue, showing resilience after major technology stocks took a beating in recent weeks, but was cautious in the upcoming critical three-month holiday period as it tries to manoeuvre through less-than-ideal economic fundamentals. Apple sold 46.8 million smartphones in the same quarter a year ago.

"Together with Apple, Salesforce is redesigning its apps to embrace a native mobile platform with exclusive new features on iOS", he said. During the September quarter of 2017, Apple posted revenue of $52.6 billion.

The technology giant's revenue for the last three months was 62.9 billion dollars (£48.4 billion) - up 20% on the same period past year - with a profit of 14.1 billion dollars (£10.8 billion).

Analyst Walter Piecyk from BTIG said that the strength in average selling price in the quarter just ended suggested that Apple was targeting unit sales behind Wall Street estimates. This might be the reason behind Apple's decision of not sharing unit sales report.

"Judging by the sales numbers that does seem likely but when your average selling price rises to $793 a unit, due to the launch of higher spec and thus higher priced products, who really cares?"

Daniel Ives, an analyst with Wedbush, called the announcement a "jaw dropper" in an investor note Friday morning, particularly because Apple is at a "critical juncture".

From next quarter onwards, Apple will only report overall total revenue and cost of sales.

"I can assure you it is our objective to grow unit sales for every product category that we have.but a unit of sale is less relevant today than it was in the past", said Apple CFO Luca Maestri on the earnings call.

Recently, the sales of iPhones, iPads and Macs have gone down. The company says it wants to simplify the reporting process, but the reality is that unit numbers are flat while revenue is increasing, so it wants people to focus only on the latter. This is because, since the iPhone 8, all devices that Apple has released have all been priced high.

The California-based company is also making more money from "services" such as the App store, Apple Music and Apple Pay. In third place on the revenue chart come the Mac computers, bringing in a decent $7.41 billion from 5.3 million units sold, while 9.7 million iPads chipped in with a "mere" $4 billion. Services revenue for the quarter surpassed $10 billion for the first time, growing 27 percent year-over-year.

Recommended News

  • Lego reveals six 'Overwatch' sets that are coming next year

    Lego reveals six 'Overwatch' sets that are coming next year

    Blizzard did not reveal when Ashe would be dropping, but likely characters arrive within a month or two of when they're revealed. One thing is for sure though, the audience reaction to her and her Ultimate Bob-the-mustach'd-robot was overwhelmingly positive.
    Alec Baldwin Leaves NYPD Precinct After Assault Arrest

    Alec Baldwin Leaves NYPD Precinct After Assault Arrest

    When President Trump was asked about the incident by White House reporters earlier today, he answered: " I wish him luck ". The actor was taken into custody just before 2pm on Friday in Manhattan's West Village neighbourhood, police said.
    Pittsburgh synagogue suspect indicted on 44 counts

    Pittsburgh synagogue suspect indicted on 44 counts

    Donald Trump visited the synagogue Tuesday, despite calls for him to wait until the victims' had been laid to rest. Bowers, a truck driver, remained jailed without bail ahead of a preliminary hearing scheduled for Thursday.
  • Highway worker helps find woman who spent six days in desert

    Highway worker helps find woman who spent six days in desert

    But she was too weak to make it. "Due to their outstanding efforts, this woman's life was saved", he said in the statement. While examining the fence, they noticed the vehicle in the tree below from the road, authorities said.
    Nintendo announces final two characters of 'Super Smash Bros. Ultimate'

    Nintendo announces final two characters of 'Super Smash Bros. Ultimate'

    That brings the base game's final roster of characters to seventy-frickin'-four, 66 of which you'll unlock as you play. Immediately, Street Fighter's Ken is shown as an Echo Fighter, and Pokemon's Incineroar are joining the fight.
    9-Year-Old Indiana Girl Dies Shielding Twin Brothers From Oncoming Car

    9-Year-Old Indiana Girl Dies Shielding Twin Brothers From Oncoming Car

    Indiana State Police Sergeant Tony Slocum said the tragedy had left even hardened emergency service workers in tears. A fourth child who is 11 years old was seriously injured and has been airlifted to a hospital in Fort Wayne.
  • Destiny 2 Will Be Free on PC for a Limited Time

    Destiny 2 Will Be Free on PC for a Limited Time

    They'll be able to download the base version of Destiny 2 , which comes with the original eight-hour campaign and a level of 20. Destiny 2 is celebrating the one-year anniversary of its launch on Battle.net by making itself free until November 18th.
    The best OnePlus 6T pre-order deals

    The best OnePlus 6T pre-order deals

    Indeed, there are features that the OnePlus 6T doesn't have that its competitors do, which could help explain its lower price tag. The device that T-Mobile sells only comes in the $579 Mirror Black configuration with 128GB of storage and 8GB of RAM .
    Khashoggi `strangled as soon as he entered consulate´

    Khashoggi `strangled as soon as he entered consulate´

    His body was dismembered and removed from the consulate, the prosecutor's office stated, adding that the killing was premeditated. It also says Khashoggi's body was dismembered after he was killed, and that the dismemberment was also premeditated.
  • Nigeria Drops On Ease Of Doing Business Ranking

    Nigeria Drops On Ease Of Doing Business Ranking

    In the World Bank's Ease of doing business Index for 2019, India rose 23 places to 77th, up from 100th in 2018 and 130th in 2017. As a result, the country significantly improved its global ranking in this area to 53, from 82 previous year .
    Migrant killed as second caravan, Mexican police clash at Guatemala border

    Migrant killed as second caravan, Mexican police clash at Guatemala border

    The U.S. military has already begun delivering jersey barriers to the southern border in conjunction with the deployment plans. Under the Posse Comitatus Act , federal troops are mostly prohibited from engaging in domestic law enforcement activities.
    'Content and happy' Hamilton celebrating fifth title with dogs and friends

    'Content and happy' Hamilton celebrating fifth title with dogs and friends

    Ricciardo, who will leave to join Renault at the end of the season, has now retired from eight races in 2018. His exit from the race marked the Aussie's sixth retirement in the past 11 grands prix.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.