Apple Closed Second Quarter In A Row With A Decline Despite Higher iPhone Sales

Triggered by declines in sales of Mac computers and iPad tablets, Apple closed the second quarter in a row with a decline in turnover, even though iPhone sales were up, reported German news agency dpa.

Overall, second-quarter sales fell by three percent, while total sales at US94.8 billion (RM420.7 billion), the company said on Thursday in after-trading hours.

The bottom line was a profit of US$24.15 billion (RM107.1 billion), compared to around US$25 billion (RM110.97 billion) in the previous year.

The iPhone business increased by 1.5 per cent to US$51.33 billion (RM227.8 billion). In the fourth quarter, which includes Christmas, sales of the more expensive and lucrative iPhone 14 Pro were slowed by coronavirus lockdowns in Chinese factories. As a result, there was pent-up demand in the past quarter, although industry-wide smartphone sales were down.

Mac computer sales fell a good 31 per cent to US$7.17 billion (RM31.8 billion). Computer sales had recently shrunk significantly after the boom at the beginning of the coronavirus pandemic. According to calculations by the market research firm IDC, PC sales fell by 29 per cent industry-wide in the past quarter.

Apple was hit particularly hard with a drop of a good 40 per cent to US$4.1 billion (RM18.2 billion). IPad sales also fell significantly, while the services business reached a record high of US$20.9 billion (RM92.7 billion).

Apple shares rose 0.7 per cent at times in after-hours trading. Group sales in the past quarter exceeded analysts’ expectations.

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