IPhone sales may have dropped but Apple’s revenue rises

According to Apple’s quarterly financial report released on Tuesday, the company’s revenue in China grossed US$10.7 billion, dropping 14 percent compared to the same period a year ago, QQ News reported.

Shares of Apple (AAPL) were trading down slightly to $147.45 in afternoon trading on Wednesday, the day after the company reported 2017 second quarter results that missed on revenue but beat on earnings.

The American tech giant said it had sold 50.7m iPhones in the three months to the end of April, 1 per cent below the same period previous year, reports The Telegraph.

A CNBC report noted Apple’s “giant” increase in dividends is a “luxury” that should in part make up for a decline in iPhone sales seen in the quarter. The Apple share price fell 1.5% following the Q2 release, and in my view its limited pullback is at least partly down to an anticipation that iPhone sales will pick up once the 10 anniversary edition is launched.

It is true that Apple has launched new iPhones at WWDC before, up to the iPhone 4 in 2010.

In the interview, Cook also touted Apple’s fiscal second-quarter results released late Tuesday, especially the company’s fast-growing services business. Burlington Store is the last company on the Fortune 500 list and it has a bit more than $5.1 billion in annual revenue.

“We set a new March quarter record for India, where revenue grew by strong double digits”. It reported net income of United States dollars 11 billion for the second quarter as compared to USD 10 billion a year ago.

Gross margin for the quarter was 38.9 percent compared to 39.4 percent in the year-ago quarter, with global sales accounting for 65 percent of revenue. In the next quarter, sales are predicted to be 42.31 million handsets.

Mr Maestri said that, during the period, Apple actually cut inventory going through its retail channel by approximately 1.2 million phones, so on a sell-through basis, it sold about 52 million units. “By doing that, we can be the ripple in the pond”.

Still, the company has to brace for a rough third quarter.

“NAND and DRAM (memory chips) are under pressure right now in terms of some price pressure”.