Apple makes money even as iPhone dies
 

Never mind inovation look at my wad

You would think that with its iPhone cash cow dying and it being unable to make a decent PC any more, Apple would be struggling. But according to its latest results it is still doing quite well.

Apple revenue rose 16 percent to $61.1 billion in the fiscal second quarter. That was the fastest growth in more than two years. Profit came in at $2.73 a share, the company said Tuesday in a statement. The Tame Apple Press is whipping itself into a frenzy over Apple's latest results because the outfit managed to beat Wall Street prophercies of doom and gloom. But there were some disconcerting facts which they chose to ignore.

Firstly the figures confirm that the iPhone sales are flat and while Apple is still doing well for now, the sources of future growth may still be murky. People who buy tech gear should not really care if a company makes huge profits from the product. What matters is how popular it is, and it is popularity which has made Apple king.

Apple sold 52.2 million iPhones in the fiscal second quarter, up 2.9 percent from a year earlier. Analysts had projected of 52.3 million, on average, although some investors expected fewer units. The average selling price was $728, versus analysts’ expectations of $740. That suggested the flagship iPhone X didn’t perform as well as some anticipated when it launched last year.

Chief Financial Officer Luca Maestri said iPhone revenue would grow by at least 10 percent year-over-year in the fiscal second quarter. Apple easily hit that goal, with 14 percent iPhone revenue growth in the period.So basically because Apple jacked up the price of the iPhone X it managed to make 14 percent more onthe iPhone account. To the Tame Apple Press this means that Apple is doing well, nothing to see here move on here.

Apple Chief Executive Officer Tim Cook highlighted strong revenue growth from iPhones, services and wearable devices like the Apple Watch. He was unconcerned about the high price of the iPhone X. "It’s priced for the value that it is, an incredible product with lots of leading edge innovations that sets us up for the next decade,"

https://fudzilla.com/news/mobile/461...as-iphone-dies