Services Now Drive Apple
Apple Inc. reported quarterly revenue of $124.3 billion, a 9% increase year-on-year and the company's highest quarterly figure on record. The results beat Wall Street estimates by $4 billion, sending shares up 5% in after-hours trading.
Segment Breakdown
- Services: $26.3 billion (+16%) — App Store, iCloud, Apple TV+, Apple Pay
- iPhone: $69.7 billion (+7%) — driven by strong demand in emerging markets
- Mac and iPad: $12.4 billion (+4%)
- Wearables: $8.3 billion (-2%) — Apple Watch facing stiff competition
"Our services business is now larger than many Fortune 500 companies on its own. The ecosystem keeps getting stronger," said Apple's CEO on the earnings call.
What Investors Are Watching
Analysts are closely watching Apple's next product cycle, with an AI-integrated iPhone expected to launch in the autumn. Early supply-chain data suggests strong initial orders from manufacturing partners in India and Vietnam.
