Apple breaks quarterly profit record despite disappointing iPhone 14 sales

Apple once again broke its quarterly profit record with $ 90.1 billion in revenue. However, the sales of the iPhone 14 did not live up to expectations and those of the iPad fell significantly.

Once again, Apple broke the quarterly profit record. In the fiscal fourth quarter, the Cupertino company registered $ 90.1 billion in revenue. It has a net profit of $ 20.7 billion. However, the sales of the iPhone 14 did not live up to expectations. Those of the iPad have even dropped from one year to the next.

Apple’s financial results are both ahead of 2021 and above Wall Street expectations. Apple’s revenue increased 8% over the same period last year. All Apple products, if iPhone, MacBook, Mac, Apple Watch, or services like Apple Music, had better sales except for the iPad. Apple that is preparing a giant iPad is failing to attract enough users with its touch pads.

iPhone 14 Pro and Pro Max outperform the standard models

Analysts confirmed this iPhone 14 and iPhone 14 Plus are not selling as expected. The iPhone 14 Plus is only available from 7 October. Its sales are therefore not included in the quarterly results. However, Apple has already had to cut production. It actually fails to convince users compared to the iPhone 14 Pro we had the opportunity to test and the iPhone 14 Pro Max.

Apple’s quarterly results only include 8 days of sale of the iPhone 14, 14 Pro and 14 Pro Max, but that’s enough to realize they aren’t selling up to expectations. You should also know that Apple has some logistical concerns about the two Pro models. CFO Lucas Maestri himself confirmed this to the Wall Street Journal the offer is limited for the iPhone 14 Pro models and the Apple Watch Ultra more resistant and durable than the classic model.

As for iPad sales, Apple recorded a turnover of $ 29.2 billion in 2022. It fell from $ 31.8 billion in 2021. Apple introduced the next generation iPad Pro powered by the M2 and 10 chip^And generation of the classic iPad, but their sales were not taken into account in the quarterly results. We will then see if these new iPad models can catch up in the sales results of the first quarter of 2023.

Source: TheVerge