“Apple announced on Jan. 4 that its App Store set a new single-day sales record on Jan. 1 with $322 million generated in the first 24 hours of the new year,” Natalie Walters writes for The Motley Fool. “The downward revision of Apple’s quarterly guidance was mostly due to weaker-than-expected iPhone demand, particularly in China. So it’s smart for Apple to remind investors that it has other growing revenue streams such as the App Store, which falls under its services revenue.”
“The App Store did $1.22 billion in sales in the week between Christmas Eve and New Year’s Eve, setting a new sales record for the holiday week,” Walters writes. “And that led into the single-day sales record of $322 million on New Year’s Day.”
“Customers’ spending on the App Store in 2018 helped Apple’s services revenue hit an all-time record of $10.8 billion for the holiday quarter. That represented an 8% increase from its previous services revenue record of $10 billion that it hit in the previous quarter, announced on Nov. 1,” Walters writes. “In addition, a number of other Apple services businesses broke sales records, including Apple Music, iCloud, and Apple Pay. Apple said the quarterly results show it’s on track to hit its goal of doubling the size of its services revenue in the period between 2016 and 2020.”
Read more in the full article here.
MacDailyNews Take:
Apple’s services are starting off the year like gangbusters!
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]
Yet pne more time.. to the lemmings
The revised 84 Billion guidance (correction of -7% in in guidance for one quarter due to mainly one product in one country, iphone and China) still makes for Apples 2nd best/highest quarterly revenue in their History !
Make your mind up based on facts not the othet way around.
Correction for the typo sensitive..
Yet one more time.. to the lemmings;
The revised 84 Billion guidance (correction of -7% in in guidance for one quarter due to mainly one product in one country, iphone and China) still makes for Apples 2nd best/highest quarterly revenue in their History !
Make your minds up based on facts not the other way around.
A near 40% loss in company value is reality no matter what the facts are. Amazon, Alphabet and Microsoft are now easily worth more than Apple as far as the news media and WS are concerned. Out of all those companies, Apple is still considered the most doomed. In the financial world, fiction can be stronger than fact. Besides, too many key people claim Apple has no product to generate significant revenue growth and that’s more than enough to keep Apple as the laggard tech company in all the S&P 500 for all of 2019.
33% in last 3 months…..
and yes it is reality.. so is the herd based panic and lemming behavior…which brought it about !…. as demonstrated by likes of you and the nonestop irrational rant steming from panic.
Reality does not mean rationality. Neither does a -7% correction to 84 billion in revenue, 2nd highest Apple quarterly revenue in history leading to 33% drop in company value.
I have given you/all way more than few stats for u to see the picture.. yet u go back to ‘broken record’ rant of ‘Apple has nothing’.( and ya competition has all this increadible stuff ,,,lol )
Apple having nothing is as ridiculous as saying there is no water in the ocean.
84 billion in revenue out of nothing…. just hear yourselves. 🤦♂️🤦♂️🤯
All u have to do is carefully analyze the revised guidance..
Which by the way.. AGAIN.. makes for Apples 2nd highest revenue quarter ever.( yet apple has nothing 🤯 )
Wearables and iPads are on a tear.
Macs are growing nicely.
Services are on a tear and growing in double digits
Installed base is growing in double digits.
iPhones are still breaking records in some countries in western Europe and Asia and more.
Revenue distribution is much much healthier than it has been in the last decade.
And no one knows what is in line as far as new products.. but there is massive R&D as a clue..
Same R&D.. that rendered 84 billion in sales last quarter , 2nd highest in apples history ! While still maintaining 38% super healthy margins.
One quarter , one adjustment.. and its the end of the world.. ( due to mainly one country and one product , China and iPhone )
Yup its not panic ….and its not lemmings mindlessly jumping off cliffs bringing themselves to their own demise !
That for sure is reality !
The lemming is you. You hang on Cook’s every word and distraction without bothering to look at context.
It’s super great that Apple can keep printing money by skimming 30% profit off all the work of 3rd party app developers. HOWEVER, the iOS App store could very well be the #1 casualty of the US tiff with China. All the Party has to do is decide that Cook needs to be made an example, and poof, Apple will be shown for the one-hit-wonder it now is.
The market is forward looking and it values risks. You are willfully blind to risks and look backwards only. That is why you are not qualified to give any investment advice.
I think the services margins will be a game changer on Feb 7th.
Nobody cares about the App Store. All that matters is iPhone sales and we’ve already seen the result of that with a near 40% loss in Apple’s value. The App Store/Services strategy is Apple’s version of bait and switch for investors. You can’t turn a road-apple into a sweet apple just by saying it’s so. Unfortunately, Apple destroyed loyal shareholders like Warren Buffett and there’s no way to get around that fact.