- iPhone 11 & Airpods proved to be a superstar once again.
- Apple shares went higher during recent months that was not at all expected by analysts.
Wall-street and many other analysts quoted that while Apple entering the new year, its sales will be nothing more than moderate until and unless the company comes up with another breakthrough product.
Apple Inc. in Q1 2020 has shut quite a few people. Sales forecast of the current quarter exceeded analyst’s projections when Apple’s stock jumped 2% in their overall revenue.
Revenue from services was below expectations (but everything’s can’t prove to be a showstopper for Apple in Q1 2020, right?). The company reported $91.8 billion in revenue for the fiscal quarter (up 9% a year ago).
“The strength is coming from the iPhone and continued really strong growth in wearables and the App Store, the iPhone was very strong,” said Shannon Cross of Cross Research.
Apple shares have gone up because it’s iPhone 11, Airpods, revenue from iCloud storage, in-app purchases and other services are reaping amount for the company. While some are cash-cows, some are still struggling to generate the expected revenue.
Some time ago, no-one thought that Apple would do this amazingly in Q1 2020. With iPhones turning 13, the company is really close to hitting 2 billion iPhone sales (added by record-breaking revenue for Apple in Q1 2020).
Seems like the company is on a journey to roll out showstopper products as well as cross all the milestones that one conglomerate needs to cross before it can be termed as legendary.
Last year, Apple surpassed Microsoft in terms of market-cap and became the most valuable company. This year has just started, and before the 1st month gets over, they have another success by their side.
Also, last year, AirPods were major reason to have hit $1.2 trillion market cap and in Q1 2020, Apple and its AirPods create another history.
We rolled out an article last year in July, where we mentioned that Apple’s sales have been declining in India due to a drop in supply (and other reasons) but this year we are more than glad to see Apple Inc standing strong with record-breaking revenue.
iPhone still generates a majority of Apple’s revenue (which is why they have another major role to play for Apple in Q1 2020). iPhone 11 and 11 Pro models (along with others) generated more than $56 billion in revenue in the Q1 (up 8% from last year).
The same time a year ago was a disaster for the company when sales of iPhones dropped by 15%. Realizing this, Apple had to cut the prices of its models but still, nothing fruitful came out of it.
“One note of caution in an otherwise strong report was that Services, which included Apple TV+, grew slightly below expectations, this miss could be attributed to the competition from Disney+, which launched at roughly the same time,” said EMarketer principal analyst Yoram Wurmser
There is no such company that has a showstopper portfolio. There will some cash cows, some fads, some question marks while some about to generate revenue.
Coming back to Apple, the company has done amazingly. Analysts thought that Apple’s revenue would see a significant rise when the company rolls out 5G devices. But even before the 5G era, there is a record-breaking revenue for Apple in Q1 2020.
Wishing all the best would be too much cliché this time. Next Big Brand is waiting to see Apple Inc. achieving another milestone. Unstoppables’ synonym is no one else but Apple in Q1 2020.