Although Apple Inc.’s biggest supporters, predicted that the company’s earning report would not be good, Apple AAPL, posted a revenue increase of 21% in the Greater China region, proving them all wrong. This has been its best increase in 10 quarters. Apple posted a knockout quarter in terms of China revenue. In iPhone revenue, Apple AAPL reported a passable quarter. This is fantastic news for Apple Inc. Apple is enormous in popularity and probably one of the top companies in the world.
Chief Executive Tim Cook, stated that, “The iPhone obviously had to do extremely well to get a 21% number.” Tim Cook also stated that the iPhone X was the top selling phone in China. It is such a savvy and sleek phone, with the latest technology, and design. Many people had to get their hands on the new iPhone X, making it the most popular phone.
Strategy Analytics, a research firm issued a release stating that,“ultra-premium iPhone X is proving relatively popular in some markets like China.”
Many analysts debated if Apple’s rebound in China was for real, this was before Apple’s earning reports were seen. UBS analyst Steven Milunovich, had been predicting for near flat growth in China for the fiscal year. Morgan Stanley’s, Katy Huberty had warned of, “continued weakness in China data.”
Cook, stated that one of the main things that had helped, and had “huge growth rates there,” was the services business. These services included the, App Store, Apple Music and Apple Care revenue. The services unit beat the estimates by a huge range margin. Cook noted that, Apple Pay was extremely strong in China, as well as other Asian countries. All of Apples main apps are revealing to be extremely popular, and top choice. These apps make life more convenient and they are very easy to use. It is no wonder that they are top of the game.
Huberty noted in her earnings preview, that the App Store made $1 billion dollars in revenue, in China during the March quarter. This was the first time that has ever happened. This proves just how unique and in demand the app store truly is. It is a huge money maker for the company, and will continue to be a huge profit for iPhone.
Apple Watch and AirPods earphones, were also another big factor in the growth of revenue. Apple Watch sales hit a new record in the March-quarter as well. Apple Watch proves to be very popular as well. Cook also flagged the introduction of carrier support, for cellular-enabled Apple Watch 3 devices in mainland China, Hong Kong and Thailand during the period.
Apple was up 4.1% on Wednesday morning trading. The stock is up 19% over the past year, as the Dow Jones Industrial Average DJIA, -1.40% , which counts Apple as a component, has gained 15%. This proves how well Apple is really doing and how popular the brand is. Apple will surely be around for a while with much success. Apple is extremely well at delivering new and improved technology all the time. Apple is one of the most popular labels, and it will defiantly be around, and doing well for a very long time. Other companies when faced against apple, have a huge job cut out for them. Apple is one of the biggest shoes to fill, they are extremely excellent at what they do. They are always up to date on times and they seem to know what is in demand and how to deliver!