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What Apple's Colossal Quarter Means

Wednesday, 28 Jan 2015 02:16 PM

(Bloomberg Business) -- Overwhelmed by the gusher of Apple news since it reported earnings on Tuesday? Don’t fret.

Here are the top five takeaways:

Apple sold 74.5 million iPhones last quarter, about 10 million more than analysts' predicted. That's more than 34,000 iPhones sold every hour, every day of the last quarter. Next up: the long anticipated smartwatch, due for release in April. Apple will find a way to make you think you need one. 

Apple’s record $18 billion net income last quarter was bigger than the full-year profit at 373 companies listed on the Standard & Poor’s 500 Index.

After lacking a larger-screened phone, Apple's new bigger iPhone 6 and 6 Plus are appealing to a lot of Chinese buyers. Sales in the Greater China region rose 70 percent in the past quarter with phone sales doubling in mainland China. The Chinese New Year next month means Apple, after getting its supply-demand in balance this month, has a hot product just in time for that holiday shopping season.

Last quarter's results surpassed analysts' estimates by the widest margin since April 2012. That level of surprise was a lot more common in the Steve Jobs era.

Lest you get caught up in the euphoria that Cook can do no wrong, look at the hurdles ahead. The strong U.S. dollar is only going to be more challenging as the year goes on and as Apple's hedges come off. Also, the iPad continues to struggle. Sales fell for the fourth straight quarter, though Cook says he still believes in the tablet's future.

To contact the author on this story: Tim Higgins at thiggins21@bloomberg.net To contact the editor on this story: Pui-Wing Tam at ptam13@bloomberg.net

© Copyright 2017 Bloomberg News. All rights reserved.

 
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