Economy

Apple's iPhone installed base hits 900 million

Apple's iPhone installed base hits 900 million

Although a trade war started by President Donald Trump past year has hurt China and potentially caused some consumers there to boycott US products, many analysts believe the iPhone's malaise stems from other issues too.

The most recent holiday quarter, though, is a little bit different.

For the quarter ending in December, Apple's busiest due to the holiday shopping season, Apple reported revenue of $US84.3 billion, slightly above analysts' average estimate of $US84 billion. Analysts, meanwhile, were anticipating revenue to fall in the $84 billion range with EPS somewhere around $4.17.

"While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter's results demonstrate that the underlying strength of our business runs deep and wide", said Tim Cook, Apple's chief executive.

During Apple's Q1 earnings call, Cook touched on foreign exchange issues, mentioning local currency decline in Turkey of 33% in 2018, caused Apple to lose $700 million United States dollars. In essence, it's trying to tweak the thinking of investors used to paying attention to iPhone sales on a quarter-by-quarter basis. "Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments". Oh yeah, amusing thing about that.

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Apple already warned investors that iPhones sales during Q1 2019 came in lower than expected, mostly thanks to problems in Greater China. So if you're keen on seeing how Mac and iPad sales are doing, well, you're out of luck.

Apple reported iPhone revenue of $51.98 billion, which fell below Wall Street's expectations and marked a 15 percent decline year-over-year.

Apple's Mac and Wearables (meaning Apple Watch and AirPods) businesses are also on the upswing, growing 9% and 33%, respectively. Apple did not mention specific countries where price changes are coming.

The tech giant provided second-quarter revenue guidance of between $55 billion and $59 billion, down from more than $61 billion one year ago.

Shares of Apple are up about 5 points in after-hours trading.


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