Apple's revenue from other products recorded the maximum growth, bringing in US$4.23 billion, up by 31% YoY.
Apple CEO Tim Cook introduces the new iPad Pro during an Apple launch event in the Brooklyn borough of NY, U.S., October 30, 2018. In comparison, previous year during the same quarter Apple had managed to sell around 900,000 units. However, after failing to find a satisfying number of new customers for iPhone, Apple has turned to a strategy which will allow people to see only the rosy part of Apple's performance and will have a comparatively lesser impact on its share value. During the September quarter of 2017, Apple posted revenue of $52.6 billion.
"If you look at our revenue, given the last three years, if you look at our net income during the last three years, if you look at our stock price here in the last three years, there's no correlation to the units sold in any given period", Maestri noted. The company will instead focus on the revenue generated.
Apple's iPhone ASPs rose 28% year over year to $793, while units were effectively flat.
Despite beating on quarterly earnings and revenue, Apple ($AAPL) disappointed investors on Thursday with weaker-than-anticipated guidance for the ever-important holiday quarter, and iPhone unit sales that just missed the mark, notching nearly zero growth from a year ago.More news: Jon Jones Isn't Interested In Trilogy Fight With Daniel Cormier
Apple's services business, a constant bright spot in recent quarters, hit a revenue milestone in Q4 2018: $10 billion (it's $9.98 billion to be exact, but Apple rounded up).
The company Apple released its latest iPhones, models selling from $1,000 to $1,500, at the tail end of the quarter, and those appeared to get off to a strong start. The company further stoked concerns by saying it will stop reporting unit sales of its most-important product.
A bright spot for Apple was the company's services business, which includes revenue from the App Store, Apple Music as well as iCloud subscriptions.
"I can reassure that it is our objective to grow unit sales for every product category that we have", Apple's chief financial officer Luca Maestri told financial analysts. The total revenue amounted to $62.9bn with earnings per share of $2.94. Analysts, who like to be spoon-fed as much information as possible, interpreted this change to mean Apple foresees declining unit growth of iPhones.
Neil Shah, research director at HongKong-based Counterpoint Research, said on Saturday its channel checks pointed to numbers for the quarter in the range of 700,000 to 800,000 units, down from about a million a year ago. The Chinese have lower incomes and are too canny to fall for Apple's marketing and Jobs' Mob was never going to drop the price enough to be a starter in India.