The iPhone 6S Plus and iPhones with more storage have remained popular, and the costlier iGadgets mean higher profit margins. Apple cited the iPhone as its biggest moneymaker, reporting 48.05 million iPhones sold, up from 39.27 million in the same quarter a year ago.
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Analyst Shannon Cross of Cross Research said Apple’s guidance for the current quarter suggested the company can top its success previous year.
Customers were also buying Macs in droves. Compared with fiscal Q4 2014, earnings per share rose 38%, and sales grew 22%. But its other products aren’t all faring as well, according to its latest earnings report.
Cook said the impact of Apple’s recently launched iPhone upgrade plan for the United States was “relatively small” compared to worldwide iPhone sales.
Sales of the iPad may be helped next quarter, when holiday shoppers head out to pick up new tablets, including Apple’s recently released iPad Pro, with its 12.9-inch display.
The sales figure is a far cry from the recent 3-month period, however, when the company recorded sales of $13.3 billion in China.
One of Apple’s fastest-growing markets China continued to grow. Note that this decrease is not due to global markets making less money, they are making Apple more money than ever before, however, the U.S. sales have increased at a greater rate. Net sales rose to $51.5 billion, up 22 per cent from a year earlier.
This amounted to almost $51 billion (46.2 billion euros) in revenue for the quarter. Longer term, Apple is gaining share and retains extraordinary pricing power, which should support stock appreciation as F2016 progresses.
Few analysts changed their price target on Apple’s stock after the results and only Pacific Crest changed its rating, upgrading the stock to “overweight” from “sector weight”, according to Thomson Reuters data. While the sheer numbers are huge, the low end of the forecast fell below Wall Street estimates and would amount to anemic growth of less than 4 percent from a year ago.
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Cook said he wasn’t anxious. The company generates more revenue and profit during this period than any other quarter in the year. Excluding the effects of currency changes, Cook said the company would grow between 8% and 11% this quarter. The company has fallen into an unhealthy reliance on a single product: the iPhone.
