Apple earnings grow even in coronavirus pandemic

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A normal year, it was a bad quarter for apple. You heard that earlier when Sarah was summarizing all the the big tech earnings profit down seven percent over last year iphone revenue down twenty one percent but for a corona virus quarter. It was received well, revenue overall for apple was up one percent and acknowledgement that the new iphone didn't come along in this quarter like usual meant that people are like, okay. They normally have an iphone in at least for part of the quarter and they didn't this year that's GonNa make a difference. This I think is also an early look at what life will be like in a world where phone sales just flat out. Where people just aren't really buying phones all the time similar to what we do with laptops and tablets now. Apple will be able to occasionally pick up the slack with occasionally peaks of it's already flattened product lines. We have examples here ipod revenue was up forty six percent Mac sales up twenty eight percent though sales are a little juiced by lockdown needs more people needed laptops and tablets than usual, and they won't always be there. But Services is what apple says is its future and lockdown juice or not services picked up big time for falling iphone revenue twenty one percent down revenue in iphone should have been a disaster, but they were up one percent overall. Why is that well in part? It was services revenue being up sixteen point three percent. They made fourteen point, five billion dollars on services that made it the number two revenue generator for apple to the Iphone, which was twenty six point four billion services recorded an all time high of five hundred eighty five million paid subscriptions growing by one hundred, thirty, five, million year-over-year on track to reach six, hundred, million by the end of twenty twenty. There was some bad news in here though China was not good news net sales grew year-over-year in every market except China. China revenue for Apple fell from eleven point one, three, four, billion to seven, point, nine, four, six, billion. But Services is the future. A whole lot on services in China because it's harder to do services in China and apple just launched its apple one subscription plan which bundles it subscriptions, and a monthly prices from ten dollars to thirty dollars a month they got three tiers in there, and that's going to bring in more subscribers as well and get people to pay a little more money. And they're not done their CEO Tim Cook on the earnings called. This year has a few more exciting things in store which I want to make. It means apple silicon. CAN'T TAKE IT MR Cooke I've had enough. So a few things here, Tom, you said ipod. IPAD but IPAD revenue is forty six percent anish epoch, right? Yeah. I. Know You're. Very. Yeah I revenue generating kissing. Confuse anybody I had revenue being up forty six percent Mac sales up twenty, eight percent. Both of those are like, okay. People are at home. There that well, first of all, there wasn't a phone to buy but even if there was like. Yeah I'd like we got a you know, let's let's think about how we make the most of our current situation because most people are hanging out at home much more than they had in the past that. Makes Sense to me. The numbers are pretty impressive though but I think that you bring up a good point about the phone sales flattening out flooding out, and let's take the pandemic step even out of the equation you just you're going to get to a point like you said with laptops and tablets where enough people who want them have them and they're only gonNA buy a new one if something goes. Wrong or you know three to four years go by and you'RE GONNA get slow in sales on that kind of model yet. I, think that is definitely the case when it comes to phones. If you think about you know smartphones, they've been around for a long time, but they really haven't been around for that long and when he first came out every year or every other year, which is more. People generally upgraded their phone. Every couple of years will you would get a new compared to what came out two years before wasn't Bajic. And, probably, for the last three or four devices that just hasn't been the case now that they absolutely are putting their, you know their toe into the camera, but the cameras are getting so advanced that people just aren't using net. Into really into photography it's like you know a lot of photographers are still going to get their DSL ours their meritless cameras and all that kind of stuff. So now your phone is just something that well, when I need a new one, I'll get one

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