Locator: 48448AAPL.
Link here. The bears miss again.
AAPL.
Quarterly earnings.
Conference Call Summary:
Records:
- We had an all-time record quarter for revenue and earnings.
- We also had records in the majority of the countries we are in.
- Services also reached a record and a record installed base.
iPhone:
- You know what didn’t hit a record? iPhone.
- However, we did hit records in some countries and markets.
- We are also finally seeing people upgrade their phones, and we had a record number of upgrades.
- Where
we have introduced AI, we are seeing stronger upgrades of our iPhones,
and the iPhone 16 is outperforming the iPhone 15 so far.
Mac:
- The Mac also didn’t hit a record, but it grew 16% year-over-year. It is, after all, the best AI PC out there.
iPad:
- Siri says to tell you that people still like our iPad, too, and we had growth, but there is no record.
Services:
- It was our Services, though, that drove our growth.
- Services were also more profitable, and we saw margin growth.
Vision Pro:
- We are seeing some sales of Vision Pro to Enterprise.
AI:
- We introduced AI to our devices, which does a lot of things you probably haven’t even tried yet, and these features are going to other countries soon.
- Plus, we have more AI things coming.
- DeepSeek doesn’t change anything for us. We’ve already kept our AI in-house with our own silicon, and we’ve always assumed that the cost of inferencing would come down, which is why we’ve been disciplined with our capex.
- Yet, we really don’t expect a lot of growth in iPhone this quarter, and it will be our third quarter when we roll out AI to other countries. As the AI base grows, the usage will grow, and once you start using the features, you can’t go back, so over time, we expect AI to continue to drive upgrades. We also see a lot of opportunities in emerging markets, particularly India. Our margins will improve, and we are in a favorable commodity environment.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.