Apple reports a blowout Q1 2020, but names coronavirus as a worry for the next quarter

  • The introduction of Apple AirPods Pro played a key part in driving a strong quarter for Apple. Apple
  • Seen in the wild in this marketing shot, the new Airpods are only marginally different from their predecessors. Apple
  • They come with a charging case similar to the one that comes with the original AirPods. Apple
  • Users are able to manage the noise-canceling features from their iPhones. Apple
  • Here's a breakdown of some of the components in a render offered by Apple. Apple
  • And here's an X-ray view from another Apple render. Apple

Based on the latest Apple quarterly earnings report, it seems that Apple's newer iPhone models have been a hit, along with the fast-selling Apple Watch and AirPods Pro (pictured above) devices. Critically, the quarter included holiday sales of of the new iPhones introduced in 2019 (iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max).

CEO Tim Cook and his associates told investors on today's earnings call that revenue is up 9 percent to a total of $91.8 billion. The iPhone grew 8 percent to make up $55.96 billion of that.

The product category that includes the Watch, AirPods, and Beats earned $10 billion this quarter. Cook bragged that those three products would together match a "Fortune 150 company." The category earned $7.3 billion in the same quarter last year. Also, CEO Tim Cook said on the investor call that more than 75 percent of people who bought Apple Watch devices during the quarter were new to the product.

Apple also saw a 17 percent year-over-year increase in revenue for its services business, which includes Apple Music, Apple TV+, iCloud, AppleCare, Apple Pay, Apple Card, and more.

Some other tidbits worth noting: Apple claimed that demand for the Apple Watch and AirPods was so high, the company struggled at times to produce enough units to meet it. The company reported new, more positive growth numbers in China after that region had been a struggle for the company in some recent quarters. And Cook told investors on the call that 1.5 billion Apple devices are in use globally, an increase froRead More – Source