The iPhone still looms large over Apple's fortunes, accounting for more than 60 percent of revenues. Apple is widely expanding the use of its facial recognition unlocking system in iPhones and iPads, which uses special lasers that are still produced by only a handful of suppliers.
Apple continues to sell millions of devices, but the bigger picture is the company's average selling price for iPhone, which was at $793 United States dollars in Q4, a huge surge compared to the year-ago quarter, at $618 USD.
Services continued its rise. Services revenue reached an all-time high of Dollars 10 billion. But with the release of two new iPad Pros with edge-to-edge displays on October 30th, that could change in Q1 2019. A new MacBook Air and Mac mini were also launched here in NY on Tuesday.
Apple CEO Tim Cook speaks during an event to announce new products Tuesday Oct. 30, 2018, in Brooklyn, New York.
This prompted the company to give a first-quarter forecast that was below expectations.
Apple, which topped the $1 trillion mark on August 2, had a market value of $1.073 trillion at the close of trading on Thursday, according to data compiled by Bloomberg. It managed to recover, though: as at 6:50am in NY, it was at $1.073 trillion. It upgraded the features of the X with the $999 5.8-inch Xs. New Apple iPhone XS Max, iPhones XS India Pre-orders Start Midnight Exclusively on Flipkart. Like the previous quarter, Apple this time too had just 1% market share.
Cook also shared concerns for his company around import duties on key Apple products, and he said that it is an area where the company is sharing feedback with the Indian government.
Elazar Advisors analyst Chaim Siegel said that China trade issues could be making it hard for Apple to get the supplies it needs.
One major announcement made by Apple in the earnings call is that the Cupertino company will not reveal its unit sales for iPhone, iPad, and Mac from next quarter onwards.
"We set September quarter revenue records for the iPhone and wearables and all-time quarterly records for services and Mac". "We generated $19.5bn in operating cash flow and returned over $23bn to shareholders in dividends and share repurchases in the September quarter, bringing total capital returned in fiscal 2018 to nearly $90bn".
Apple said the data is less relevant to the strength of its business as customers bundle products, such as an iPhone paired with its wireless AirPods headphones, along with paid subscription services like Apple Music to listen to songs and iCloud storage for photos.
The company also argues the quarterly numbers and prices do not necessarily tell the whole story as it diversifies into other business areas. Apple Stores will soon number 506, half of that outside the US.