The company has sold over 48 million iPhone units for the period, which it stated were “record sales for Q4”, though this data did fell short of analysts’ projections.
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Apple posted a whopping $53.4 billion profit, up 35 percent year on year and revenue jumped 28 percent to $233.7 billion for the full fiscal year ending in September. Up slightly more than 6% year to date, there’s a few value accumulating in this unrelenting growth leader.
Apple is equally bullish about the first quarter of fiscal 2016 which will cover October to December. Apple’s guidance for its holiday quarter revenue has been met by positive responses from analysts and investors.
During Apple’s latest earnings call, boss Tim Cook said that 30 per cent of customers who bought an iPhone recently had switched from an Android-based smartphone. The company does not break out sales of Apple TV, Apple Watch or Beats music accessories, which are lumped together in the “other products” segment; sales for that category rose 61% to $3.0 billion. Mr Cook also revealed Apple made a quarterly revenue of $51.5 billion (£33.7 billion), driven by the launch of the iPhone 6s and 6s Plus.
Apple’s stock has fallen more than 12 percent since its last earnings report in July amid concerns about slowing growth.
“Apple’s record September quarter results drove earnings per share growth of 38% and operating cash flow of $13,5-billion”, says Luca Maestri, chief financial officer of Apple.
It’s unclear right now if the $US13 strap for the remote that Apple has started to sell online will also be available in stores. Cihra estimates over half of the almost 500 million iPhone users by year’s end will not have upgraded to a larger-screen iPhone.
The massive impact of China’s demand for Apple products has led many experts to predict that the country will ultimately replace the United States as the biggest market for Apple.
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Analysts on average had expected a profit of $1.88 per share and revenue of $51.11 billion. The company said it sold 5.71 million Mac computers this quarter. For the fiscal fourth quarter, Apple said iPad sales dropped 20 percent from a year ago, making it the seventh consecutive quarter that sales of the tablet have slipped. According to him, Apple now has 25 stores in China and they expect to reach 40 stores by the middle of next year. “We see an enormous change in China over the next several years”.
