Tim Cook acknowledges slowdown of business in India

Roman Schwartz
November 4, 2018

The X continues to sell well enough that Apple moved roughly the same number of iPhones and made almost 30 percent more.

The company registered $62.9 billion in revenue, an increase of 20% over the same period previous year, and quarterly earnings per diluted share of $2.91, up by 41%.

Back to the Q4 2018 results, and Apple shared, as is usual, a breakdown of device and service sales units/revenue.

Get a good look at this iPhone sales chart, because it's the last one you'll ever see.

With the rupee touching 74 to a dollar, Cook said the currency weakness has been part of Apple's challenge in India, "as you can tell from just looking at the currency trends, but I sort of view these as speed bumps along a very long journey though, and the long term is, I think is very, very strong there (India)".

"A$3 unit of sale is less relevant for us today than it was in the past given the breadth of our portfolio and the wider sales price dispersion within any given product line", said Apple CFO Luca Maestri during the company's fourth-quarter earnings call.

The global sales accounted for 61 per cent of Apple's final quarter revenue and its services revenue reached an "all-time high" of $10 billion.

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This will be the last quarter that Apple reveals how many iPhones, iPads, and Macs it shipped.

Apple sold more than 46.8 million iPhone handsets in the last three months.

Sales totaled $62.9 billion, which beat estimates of $61.48 billion by 2.31 percent. During the September quarter of 2017, Apple posted revenue of $52.6 billion.

FILE- In this September 21, 2018, file photo customers look at new Apple watches including the Series 4 at an Apple store in NY. Besides fretting over Apple's fiscal fourth-quarter results, Wall Street also was let down by a slightly disappointing revenue forecast for the current quarter covering the holiday season - a projection suggesting that iPhone sales will fall below the 78 million units analysts had expected for the period.

Mike Levin, co-founder of Consumer Intelligence Research Partners LLC, a market-research firm that surveys Apple customers, said the change shows Apple executives are thinking about their business in ways they haven't wanted to say aloud. In third place on the revenue chart come the Mac computers, bringing in a decent $7.41 billion from 5.3 million units sold, while 9.7 million iPads chipped in with a "mere" $4 billion. Maestri also cited Apple competitors which did not disclose sales figures.

Apple said it expects between $89 billion and $93 billion in revenue for its fiscal first quarter ending in December, with a midpoint of $91 billion coming in below Wall Street expectations of $93 billion, according Refinitiv data.

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