This statement implies Apple has reaped the rewards of yet another successful iPhone launch, along with sales of the Apple Watch and AirPods (wearables) and Apple Music, Apple News+, Applw Arcade and Apple TV+ (services).
The breakdown of revenue for each of Apple’s products:
- iPhone: $55.96 billion
- Mac: $7.16 billion
- iPad: $5.98 billion
- Wearables, Home, and Accessories: $10.01 billion
- Services: $12.72 billion
These are mind-boggling numbers. The lowest revenue was for the iPad, but a quarterly revenue posting of nearly $6 billion is still astoundingly high.
Apple continues to impress with its Christmas holiday earnings where it benefits from a boom in iPhone sales after new models launch in September. Analysts always seem to decide Apple is due a bad year, which comparatively it sometimes does have, but when this is the bar, Apple is in no danger.
It clearly relies on the iPhone for over 50% of its revenue, but the services and wearables categories outstripping the iPad and Mac show where the company is going, particularly following its services push in 2019. Once the customers who have had a free year of Apple TV+ with their new iPhone or iPad start to pay, that large number will likely rise – along with Apple’s unprecedented financials.