Apple Reports Q1 Earnings: Beats Estimates on Revenue and EPS
Key Metrics:
* EPS: $2.40 (vs. consensus estimate $2.35)
* Revenue: $124.3 billion (vs. consensus estimate $124.1 billion)
Segment Performance:
* iPhone: $69.1 billion (vs. expectations $71 billion)
* Services: $26.3 billion (in line with expectations)
* Greater China: $18.5 billion (below expectations of $21.5 billion)
China Concerns:
* Sales in Greater China declined ~2% YoY
* This marks the second consecutive year of declining sales in the region
AI Push:
* Apple introduced Apple Intelligence updates in October
* Analysts remain cautious about its impact on iPhone sales
Future Products:
* Apple expected to release new products, including:
* Entry-level iPhone SE
* New iPads
* MacBook Airs
Stock Price and Comparison:
* Apple's stock rose 4% after earnings report
* Shares up 24% over the last 12 months, similar to Google
* Nvidia up 102%, Meta up 69%, Microsoft up 8%