Apple

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<p class="has-drop-cap">Although Apple’s (NASDAQ: $AAPL) overall earnings and revenue came in higher than expected in the <a aria-label="fiscal Q4 2023 (opens in a new tab)" href="https://www.apple.com/newsroom/2023/11/apple-reports-fourth-quarter-results/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">fiscal Q4 2023</a>, the company’s sales fell for a fourth straight quarter. iPhone sales remain Apple’s brightest spot, although the tech giant <a aria-label="faces growing sales challenges in Greater China (opens in a new tab)" href="https://www.ft.com/content/6d19ef61-8d1d-4afc-832a-b2d3524d665c" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">faces growing sales challenges in Greater China</a>.&nbsp;</p>
<h3 id="all-of-apple-s-devices-miss-revenue-growth-forecasts-except-for-the-iphone">All of Apple’s Devices Miss Revenue Growth Forecasts, Except for the iPhone</h3>
<p><a href="https://tokenist.com/apple-closing-in-on-3-trillion-valuation-as-shares-hit-new-ath/" rel="noopener noreferrer nofollow" class="deco-link">The world’s most valuable company,</a> Apple, posted Q4 earnings on Thursday that topped Wall Street’s estimates on top and bottom lines. However, the report showed that Apple’s overall sales declined for a fourth consecutive quarter, sending its shares lower at the market open on Friday.</p>
<p>The iPhone maker reported total earnings per share (EPS) of $1.46 in the fiscal fourth quarter, exceeding the consensus projection of $1.39. Net income stood at $22.96 billion, compared to $20.72 billion in the same period last year.</p>
<p>Revenue came in at $89.5 billion, while analysts expected $89.28 billion. For the full fiscal year, Apple generated $383.29 billion in sales, down 3% year-over-year. On a quarterly basis, revenue was down less than 1%.&nbsp;</p>
<p>Interestingly, Apple’s hardware business declined compared to the year-ago quarter, except for the iPhone. The world’s most popular smartphone raked in $43.81 billion in revenue, in line with what analysts expected, up 2% from a year earlier.&nbsp;</p>
<p>Looking ahead, Apple offered a weaker-than-expected forecast for the holiday quarter, which explains today’s share price drop. The company grapples with waning demand for iPads and wearables amid <a href="https://tokenist.com/september-cpi-surpasses-expectations-with-a-3-7-increase-how-will-the-fed-react/" rel="noopener noreferrer nofollow" class="deco-link">sticky inflation</a>, which forced the tech giant to hike prices for several products this year. This trend has also been reflected in revenue numbers of hardware segments other than iPhone, all of which missed estimates.</p>
<p>The company’s CFO Luca Maestri said that sales for the current quarter, historically the strongest for Apple, are expected to be similar to last year. Meanwhile, Analysts expected a sales growth of 4.97% to $122.98 billion.&nbsp;</p>
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<h3 id="apple-s-revenue-in-china-falls-short-of-estimates-amid-intensifying-competition-from-huawei-and-us-china-tensions">Apple’s Revenue in China Falls Short of Estimates Amid Intensifying Competition from Huawei and US-China Tensions</h3>
<p>In the meantime, Apple’s revenue in Greater China slipped by 2.5% to $15.1 billion, missing estimates by almost $2 billion. The numbers intensified fears that <a aria-label="revived competition from Huawei (opens in a new tab)" href="https://www.cnbc.com/2023/10/27/huawei-grows-faster-than-apple-in-china-in-q3-after-mate-60-launch.html" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">revived competition from Huawei</a>, and growing geopolitical tensions are increasingly weighing on Apple’s presence in one of its key markets.</p>
<p>The company’s slowdown in China has partly been fueled by worries that the Asian government may ban purchases of iPhones by government workers amid rising tensions with Washington. However, Apple’s CEO Tim Cook downplayed these concerns during the earnings call, saying that new iPhone models were doing well in China.&nbsp;</p>
<p>During the earnings call, Cook also said that Apple is working on generative <a href="https://tokenist.com/can-apple-be-the-next-big-ai-stock/" rel="noopener noreferrer nofollow" class="deco-link">AI solutions</a>, adding the company is “investing quite a bit.” in the technology.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em><strong>What highlight from Apple’s latest quarterly report interested you the most? Let us know in the comments below.&nbsp;</strong></em></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/apples-revenue-has-been-on-the-decline-for-a-full-year-now/">Apple’s Revenue Has Been on the Decline for a Full Year Now</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Apple’s Revenue Has Been on the Decline for a Full Year Now

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