Apple with over $100 billion in sales for the first time ever

Apple’s quarterly sales exceeded $100 billion for the first time ever. Sales were $111.4 billion, exceeding market expectations ($103 billion) by more than 10%. However, Apple’s share price fell by 2.8% off-the-shelf as the stock market declined overall as the Fed revealed uncertainties about its economic outlook.

At 6 am KST on the 28th, Apple announced that its sales in the fourth quarter of last year increased by 21% year-on-year to $111.4 billion. Earnings per share (EPS) was $1.68, exceeding the market forecast ($1.41). In particular, new products released in October last year were sold in large numbers in line with the corona pandemic period. Thanks to this, sales of iPhone, iPad, Apple Watch, and App Store all exceeded market expectations. However, only the Mac business, which is the PC and laptop business, was slightly below the market estimate.

● iPhone $ 65.6 billion vs. $598.6 billion (estimated)

Mac $86.7B vs. $86.8B (estimated)

● iPad $84.4B vs. $76.1B (estimated)

●Apple Watch, Apple Home, etc. $129.7B vs. $119.1B (estimated)

●Service (App Store Apple TV+, etc.) $157.6B vs. $148.5B (estimated)

In particular, iPhone sales in the Greater China region, including China, Taiwan, and Hong Kong, increased by 57%. Tim Cook, Apple’s chief executive officer (CEO), said the results could have been much better if there were no Apple stores closed due to the Corona 19 pandemic. There is a basis. This is because the iPhone penetration rate is increasing tremendously. According to Apple’s disclosure on the day, the spread of iPhones from 900 million at the end of the third quarter to 1 billion in the fourth quarter, and if all other products such as the iPad are included, the number of Apple products distributed around the world reaches 165,000.

However, Apple did not disclose its prospects for future performance on this day. Since the corona pandemic, Apple has not disclosed its outlook on future corporate performance due to uncertainty about the future.

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