Apple Q1 Earnings: Beats Estimates but Misses on iPhone Revenue
Key Metrics:
- EPS: $2.40 (vs. $2.35 estimate)
- Revenue: $124.3 billion (vs. $124.1 billion estimate)
iPhone Segment:
- Revenue: $69.1 billion (vs. $71 billion estimate)
- Slight decline from $69.7 billion in the previous year
Other Business Segments:
- Services: $26.3 billion (in line with expectations)
- Greater China sales: $18.5 billion (below $21.5 billion estimate)
China Market:
- Declined 8% in 2024 and 2% in 2023 due to currency weakness and lower device sales
Other Notable Factors:
- Overall iPhone market share fell 1% year-over-year in Q4
- Apple's AI push through Apple Intelligence updates aims to entice upgrades to the iPhone 16 line
- New product releases expected in the coming months, including an entry-level iPhone SE, new iPads, and MacBook Airs
Comparative Stock Performance:
- AAPL: Up 24% over the past 12 months
- GOOG: Up 27%
- NVDA: Up 102%
- META: Up 69%
- MSFT: Up 8%