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Apple has reason to be happy despite falling revenues

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Apple has just presented financial results for its fourth fiscal quarter, which ended September 30, 2023. And during this three-month period, the firm observed a 1% drop in revenue, year-over-year. In total, the Cupertino company generated $89.5 billion during this period. But despite this drop in revenue, the firm's CEO, Tim Cook, said he was “happy” to present these results.

Indeed, Apple recorded a record turnover for the iPhone, as well as for its services. On the other hand, for other categories, sales were down. And the very good performance in the iPhone and services categories was not enough to compensate.

The iPhone 15 does better than the iPhone 14

When it comes to smartphones, Tim Cook told CNBC that the new iPhone 15 series is selling better than the iPhone 14 series, during the same period in 2022. Moreover, the iPhone 15 Pro and iPhone 15 Pro Max are so popular that the Cupertino company is currently facing supply problems. As a reminder, the iPhone 15 Pro and iPhone 15 Pro Max are the first smartphones to use a chip engraved in 3 nm. These are also the first iPhones to use a titanium frame. And thanks to the sensors offered by Apple, these models are among the best devices on the market for taking photos and videos.

Regarding Macs, sales were down. However, Apple expects these to take off in the following quarter. Indeed, the Apple brand has just presented new models which benefit from significant improvements in performance, thanks to a new generation of processors. Rumors also suggest that Apple could launch new iPads in the near future, which could also boost sales for this category.

Apple services are a hit

For a while, Apple has been banking on services in order to diversify its sources of income, and so as not to depend too much on income from iPhone sales. And today, this bet is successful. As mentioned above, the revenue generated by these services has reached a new record. According to CNBC, Apple services generated $22.31 billion during the quarter, an increase of 16% year-over-year.

To sell its services, Apple relies on the user base of its products around the world. And indeed, these are more and more numerous. “Our active installed base of devices has once again reached a new record across all products and all geographic segments, thanks to the strength of our ecosystem and the unparalleled loyalty of our customers”, indicated CFO Luca Maestri.

  • Apple announces a 1% drop in quarterly revenue< /li>
  • But Tim Cook is pleased with the record results in the iPhone and services categories
  • The iPhone 15 series is selling better than the iPhone 14 series, and there is strong demand for the iPhone 15 Pro and for the iPhone 15 Pro Max
  • Mac sales were down, but Apple expects demand to increase thanks to the new models with M3 chips announced recently
  • < li>Service revenue increased 16%

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116