Oh my god. This is insane. Apple released their latest financial numbers, and boy, and they are killing it. Again, again and again. Apple is on a roll, like many tech companies, for that matter. For many products, more than half of buyers are new to the product. Apple is still expanding.
Not bad for the oldest Apple platform. More than 70% increase in revenues year-over-year from the same period last year. After fixing their flaky keyboards, the M1 chip is now paying off big time. There is still room to grow even further with the just-announced redesigned iMac and the rumored upcoming MacBook Pro redesign. They are expected to come out this year.
Still the most important driving force for Apple, the one that drives everything else. With an increase of more than 65% year-over-year, the iPhone 12 seems to fuel a super-cycle upgrade. What else to say? The iPhone is the iPhone.
More than 78% increase year-over-year for the iPad. This success is well deserved. One quick question: Are there any other manufacturers who can come close to Apple’s dominance and pose some challenge? I don’t think so. The iPad story is made of both the hardware and the software, which is due for a major upgrade in the coming months.
Services and wearables
With revenues steadily increasing for services, that looks to be a side effect of all other hardware sales increasing too. AirPods sales are probably maturing; I see them everywhere I walk, on the news, in Zoom meetings.
There is a lot of uncertainty for the next quarter thanks to shortages impacting production lines. Still, Apple is expecting double-digit growth of its revenues in all its product categories. That’s unprecedented to my knowledge. Apple’s challenges may not be on the financial side but on the regulatory side for the foreseeable future.