Apple reports record quarterly revenue
Apple reported fourth fiscal quarter earnings on Thursday, posting record revenue but falling short of expectations for iPhone sales and services.
The iPhone maker’s revenue was $90.15, higher than analysts’ forecasts and a record fourth-quarter figure in the company’s history. Earnings per share was $1.29 vs. $1.26 expected.
iPhone sales were slightly less – $ 42.63 billion against $ 42.67 billion expected. Mac sales were $11.5 billion vs. $9.25 billion expected iPad sales were $7.17 billion vs. $7.81 billion expected Wearables sales were $9.65 billion vs. $8.8 billion expected Services sales were $19.19 billion against the expected $19.97 billion.
Apple shares fell 3% after the close of trading on Thursday. And since the beginning of the year, they have fallen by almost 16%.
At the same time, Apple recently announced that it is reducing production of the iPhone 14 Plus. Apple launched the iPhone 14 and Apple Watch Series 8 lineup in September this year. The difference between the iPhone 14 Pro and iPhone 14 Pro Max is that they have better displays, processors, and cameras than the less expensive iPhone 14 and iPhone 14 Plus.
Apple has raised the average selling price of its smartphones, which could offset a potential decline in overall sales, and announced price hikes for its services, including Apple Music+, Apple TV+ and Apple One.
The problems that put pressure on the company are typical for the entire high-tech sector: the difference in the exchange rate caused by the strengthening of the dollar, which “eats” the overall income, the Fed’s tough policy, constant inflation and slowdown in consumer demand.