Apple Reports Strong Q1 Earnings, but iPhone Revenue Falls Short
Key Highlights:
* EPS: $2.40 (beat estimates of $2.35)
* Revenue: $124.3 billion (beat estimates of $124.1 billion)
* iPhone revenue: $69.1 billion (vs. expectations of $71 billion)
* Services revenue: $26.3 billion (met expectations)
* Greater China sales: $18.5 billion (below expectations of $21.5 billion)
Additional Details:
* iPhone market share fell 1% year over year in Q4 despite overall smartphone shipment growth.
* Apple launched its AI push with Apple Intelligence updates, but analysts express skepticism about its impact on iPhone sales.
* The company is expected to release new products in the coming months, including an entry-level iPhone SE, iPads, and MacBook Airs.
* Apple shares have gained 24% in the past year, in line with Google's performance.
Comparison to Big Tech Peers:
* Meta (META): Up 69% in the past year
* Microsoft (MSFT): Up 8% in the past year
* Google (GOOG, GOOGL): Up 27% in the past year
* Nvidia (NVDA): Up 102% in the past year despite recent setbacks