Apple earnings present sturdy iPad and Mac gross sales can’t make up for the iPhone

An older man in a white polo shirt flashes a peace sign while walking outdoors.

Enlarge / Apple CEO Tim Cook dinner. (credit score: Patrick T. Fallon/Bloomberg by way of Getty Photos)

Apple introduced its fourth-quarter earnings at the moment after the bell, and it was one thing of a wierd quarter as a result of, not like some earlier years (together with final 12 months), this quarter’s numbers didn’t embody an iPhone launch. The iPhone 12’s varied fashions ship in October and November as an alternative of September this 12 months.

CEO Tim Cook dinner proudly introduced double-digit YOY progress in all product classes in addition to iPhone on the decision, however the iPhone is necessary: Apple’s complete income was up only one p.c year-over-year, with iPhone income down virtually 21 p.c.

Whereas the iPhone did not assist push up the underside line, Apple did launch different merchandise through the interval, together with the redesigned iPad Air and two Apple Watches: the Apple Watch Collection 6 and the Apple Watch SE. iPad income was up a considerable 46 p.c YOY (it totaled $6.eight billion), and Mac income was additionally sturdy at $9 billion, or 28 p.c greater than the identical quarter final 12 months.

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