The Q1 2023 results for Apple are out and they’re disclosing some interesting findings from the leading tech giant’s recent performance.
The shares did dip 4% during one point in time when a period of extended trading was seen on Thursday. This was right before a rise after Apple sent out data that spoke of an outlook for the current quarter.
Moreover, the firm’s data points clearly mentioned how sales of the iPhone will not be going down as quickly as they may have done so during the holiday quarter.
The Cupertino firm failed to send out guidance on the findings for the current quarter that ends in March of this year. And to be more direct, we’re not seeing any further details in this aspect since the year 2020.
Meanwhile, a few analysts felt the firm would be able to reach a target of $98 billion in terms of its sales for fiscal of Q2. But we would like to give out some details regarding a few more extra points on its expectations regarding performance.
The firm’s CFO says that the quarterly revenue for March would be seeing some similar trends of decline like this. Moreover, the service sector is said to see some major growth. But in terms of sales linked to both the Mac and the iPad, they’re both expected to fall to double digits from the year-earlier period.
Sales for the iPhone would fall less dramatically as the rest in the quarter for March versus that seen in December, the tech giant adds.
Apple’s revenue fell by 5% in Q1 of 2023 and the firm’s CEO says that a huge majority of the reasoning behind such a picture had to do with the likes of the dollar strengthening. On the majority, Apple witnessed growth across most global markets so that’s a win-win situation.
But there was some discussion by the CEO about sales for the iPhone 14 Pro and 14 Pro max seeing a decline during this particular quarter so users were clearly not interested in making a purchase of the device.
The main assembly power plant for production in China was disrupted from carrying out its usual business, thanks to the imposed lockdown due to a rise in COVID cases. So as a whole, Apple appears to be doing everything it can to reduce costs and even bring down rates for hiring.
The news comes as the iPhone maker hits another milestone in terms of its services department. While reporting the quarterly performance, it spoke about how many devices were currently active. And the figure was certainly not less. It was 2 billion active devices and that was a fresh new record worth a mention.
The figure recorded last year was 1.8 billion devices so it literally added 200 million more this year, which is definitely a big deal.
And in a span of seven years, we saw the number of devices double from one billion to two billion.
At first, the quarterly results were not welcomed by investors for obvious reasons. The company mentioned its first YoY sales drop since 2019. And then we had the likes of shares falling by 4%, another major upsetting point.
By far, Apple’s biggest selling point is the iPhone. And that was responsible for 56% of the sales seen during this new quarter’s results. Clearly, Apple is telegraphing this all as things get better with time after passing through a struggling quarter.
Analysts who covered the firm’s stock are giving more insights which is major news because the company itself fails to provide too much detail in this regard.
Read next: Apple Increased Its Lobbying Spending by 44% in 2022 Amidst Antitrust Lawsuits
The shares did dip 4% during one point in time when a period of extended trading was seen on Thursday. This was right before a rise after Apple sent out data that spoke of an outlook for the current quarter.
Moreover, the firm’s data points clearly mentioned how sales of the iPhone will not be going down as quickly as they may have done so during the holiday quarter.
The Cupertino firm failed to send out guidance on the findings for the current quarter that ends in March of this year. And to be more direct, we’re not seeing any further details in this aspect since the year 2020.
Meanwhile, a few analysts felt the firm would be able to reach a target of $98 billion in terms of its sales for fiscal of Q2. But we would like to give out some details regarding a few more extra points on its expectations regarding performance.
The firm’s CFO says that the quarterly revenue for March would be seeing some similar trends of decline like this. Moreover, the service sector is said to see some major growth. But in terms of sales linked to both the Mac and the iPad, they’re both expected to fall to double digits from the year-earlier period.
Sales for the iPhone would fall less dramatically as the rest in the quarter for March versus that seen in December, the tech giant adds.
Apple’s revenue fell by 5% in Q1 of 2023 and the firm’s CEO says that a huge majority of the reasoning behind such a picture had to do with the likes of the dollar strengthening. On the majority, Apple witnessed growth across most global markets so that’s a win-win situation.
But there was some discussion by the CEO about sales for the iPhone 14 Pro and 14 Pro max seeing a decline during this particular quarter so users were clearly not interested in making a purchase of the device.
The main assembly power plant for production in China was disrupted from carrying out its usual business, thanks to the imposed lockdown due to a rise in COVID cases. So as a whole, Apple appears to be doing everything it can to reduce costs and even bring down rates for hiring.
The news comes as the iPhone maker hits another milestone in terms of its services department. While reporting the quarterly performance, it spoke about how many devices were currently active. And the figure was certainly not less. It was 2 billion active devices and that was a fresh new record worth a mention.
The figure recorded last year was 1.8 billion devices so it literally added 200 million more this year, which is definitely a big deal.
And in a span of seven years, we saw the number of devices double from one billion to two billion.
At first, the quarterly results were not welcomed by investors for obvious reasons. The company mentioned its first YoY sales drop since 2019. And then we had the likes of shares falling by 4%, another major upsetting point.
By far, Apple’s biggest selling point is the iPhone. And that was responsible for 56% of the sales seen during this new quarter’s results. Clearly, Apple is telegraphing this all as things get better with time after passing through a struggling quarter.
Analysts who covered the firm’s stock are giving more insights which is major news because the company itself fails to provide too much detail in this regard.
Read next: Apple Increased Its Lobbying Spending by 44% in 2022 Amidst Antitrust Lawsuits
