Apple (Nov 2024)
from The Quarterly Call Hosted by The Quarterly Call
Record-Breaking Quarter: Apple reported a record-breaking September quarter with revenue of $94.9 billion, driven by growth in iPhone and all-time high revenue in Services. Apple Intelligence Launch: The focus of the call was the successful launch of Apple Intelligence, with Tim Cook highlighting its positive impact on user experience and future potential. Strong Product Lineup: Apple emphasized its strong product lineup entering the holiday season, including new Macs, Apple Watch, and the ongoing rollout of Apple Intelligence features. Services Growth: Services continued its strong growth trajectory, reaching $100 billion annual run rate, fueled by a growing recurring revenue base from over 1 billion paid subscriptions. Global Performance: Strong growth was observed in multiple regions, including double-digit growth in Europe and an all-time revenue record in India. Cautious Outlook: Despite a strong quarter, Apple issued a cautious revenue outlook for the December quarter, citing macroeconomic concerns and the phased rollout of Apple Intelligence.
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