At 20:51 GMT, Apple Inc is trading $184.28, up $11.25 or +6.50%.
Product-Specific Revenue Insights
While iPhone sales showed a downturn, Mac sales experienced a modest 4% growth, driven by the newly released MacBook Air models equipped with the M3 chip, contributing $7.5 billion. In contrast, iPad revenue fell by 17% to $5.6 billion, affected by a lack of new launches since 2022. However, services emerged as a robust sector, growing 14.2% to reach $23.9 billion, highlighting the strength of Apple’s subscription services and digital content.
Strategic Moves and Future Outlook
CEO Tim Cook’s comments to CNBC indicated cautious optimism. Cook explained the year-over-year decline as a result of high base effects from delayed iPhone 14 sales during the pandemic. Adjusting for these anomalies, Cook suggested underlying growth…
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