The reporting emphasis also extends Apple’s earlier disclosure of separate product and services revenue in its 2020 September-quarter results: device reach is becoming a central indicator alongside quarterly sales and profit.
First-order effects
Apple’s 8% quarterly revenue growth and record annual revenue give shareholders an immediate positive signal, reflected in the more than 6% rise in its shares.
Apple’s record active installed base expands the company’s current reach across its major product categories, strengthening the audience represented by its existing devices.
Second-order effects
Investors will measure Apple’s next quarters against the September-quarter acceleration and whether its record installed base continues to support revenue growth.
Apple’s reporting places more weight on the installed base as a commercial metric, alongside revenue and earnings, for evaluating the company’s customer reach.
Third-order effects
If Apple sustains this pattern, the company’s valuation narrative shifts further from unit-period performance toward the durability and revenue potential of its active-device base.
The company’s disclosures point to a broader hardware-platform model in which the size of an active ecosystem becomes a strategic asset alongside product sales.
The trend: Large device makers are increasingly framing growth around the scale and commercial value of their active installed bases, not only quarterly hardware revenue.
$AAPL service revenue is decelerating but the net new subscriptions firmed up this quarter and now total subscriptions top 900 million.
@greengart
Avi Greengart on x
With silicon supply constraints easing — and demand somehow defying the rest of the market — @Apple set a new Sept quarterly record on revenue and EPS. https://www.apple.com/...
Thus the of price hikes... https://twitter.com/...
@joannastern
Joanna Stern on x
Apple on a Big Tech Dynamic Island today with record results as Meta and Amazon get crushed https://www.wsj.com/...
@pt
Parker on x
It's weird all the tech monopolies are crashing and Apple is still just cruising along. Probably nothing. https://twitter.com/...
@carnage4life
Dare Obasanjo on x
An interesting observation from Apple's business results is how the iPad never ended up disrupting the Mac while the iPhone did disrupt the iPod. I remember working on Windows 8 and the sense of paranoia that tablets would obsolete PCs. Sometimes disruption never comes.
@benbajarin
Ben Bajarin on x
With iPad sales down again, Mac growth could be coming at iPads expense.
@rsgnl
Joe Rossignol on x
Apple CFO Luca Maestri forecasted that Mac revenue will decline “substantially” in Q4 2022. I wonder if that rules out a new 14" + 16" MacBook Pro this year? Then again, a minor spec bump might not move the needle much regardless.
@jsnell
Jason Snell on x
iPhone got announced during Q4 but very few shipments... still, 10% is a solid number that will make people happy https://twitter.com/...
@austen
Austen Allred on x
In Q4 2022 Apple did $9.6B in revenue from wearables and $11.5B from Mac. Pretty wild that Apple Watch and Airpods do as much revenue for Apple as... the computers. https://www.apple.com/...
@jsnell
Jason Snell on x
Once invincible, $AAPL's Services line has been down sequentially two quarters straight and dropped to single digits of growth for the first time in ages. https://twitter.com/...
@neilcybart
Neil Cybart on x
Apple has $169B of cash and marketable securities. $120B of total debt. $49B of net cash (cash - debt).
@jyarow
Jay Yarow on x
Apple down 4%. But compared to Amazon and Facebook that's pretty much up. https://t.co/CpqI3MYMIa
@adamnash
Adam Nash on x
Wow. $AAPL results are 🤯 * EPS. $1.29 vs. $1.27 est * Revenue. $90.15 billion vs. $88.90 billion est, up 8.1% YoY * iPhone revenue: $42.63 billion vs. $43.21 billion est, up 9.67% YoY * Gross margin: 42.3% vs. 42.1% est Mac revenue big surprise ⬆️ https://www.cnbc.com/...
@patrickmcgee_
Patrick McGee on x
Evercore ISI is calling Apple “the last FAANG standing”, calling 10% iPhone growth “robust” “We think AAPL remains uniquely positioned to sustain mid/high single digit sales and low/mid-teens EPS growth on a multiyear basis.”
@rsgnl
Joe Rossignol on x
Nothing too surprising from Apple's earnings results today. September quarter record for the company with $90.1B revenue. Up 8% YoY vs. the average 6.5% forecasted. iPhone, Mac, Wearables/Home/Accessories, and Gambling Ad sales up. iPad sales down.
@samifathi_
Sami Fathi on x
Apple CEO Tim Cook commenting on the price for Apple Music & Apple TV+: the hikes are “disconnected” from the performance of the services and a result of more expensive licensing. Also says Apple TV+ has more content now, so that justifies the increase. https://www.cnbc.com/...
@neilcybart
Neil Cybart on x
Apple generated $111 billion of free cash flow over the past 12 months. Unmatched in the world.
@stevekovach
Steve Kovach on x
I spoke with Tim Cook about Q4 earnings: He said they're slowing hiring to keep costs down. https://www.cnbc.com/...
@patrickmcgee_
Patrick McGee on x
Not on call but Apple *net profit* for the year was just shy of $100bn, at $99.8bn, of $273mn per day.
@neilcybart
Neil Cybart on x
Apple just reported FY4Q22 results: - $90.1 billion of revenue - $1.29 earnings per share My estimates: $89.9 billion of revenue $1.31 EPS $AAPL It's early but numbers look good.
@vadimyuryev
Vadim Yuryev on x
What's your vote? Minor spec bump update this year or 3nm chips in the Spring? https://twitter.com/...