“Apple Inc. is dependent on the iPhone for more than half of its revenue,” Quentin Fottrell writes for MarketWatch. “But despite a hunger for the next big thing among consumers and investors, don’t expect another blockbuster anytime soon.”
“The Cupertino, Calif.-based company reported third-quarter revenue of $37.4 billion – 53% of which was attributed to iPhone sales alone. On the upside, sales of the iPhone grew 9% to $19.7 billion,” Fottrell reports. “On the downside, no other product comes close to generating those kinds of figures. iPad sales hit $5.9 billion in the latest quarter (accounting for 16% of sales), iMac sales were $5.5 billion (15% of sales), iPod sales were $442 million (just 1% of sales). The rest was accounted for by iTunes (12% of sales), plus accessories and services. ‘We doubt Apple will have another $90 billion-plus product any time soon,’ says Brian Colello, analyst at research firm Morningstar. For better or for worse, the iPhone will be the firm’s core business for quite some time, he says. ‘A communication device is simply more important than other types of consumer products – iPod for music in the past and iWatch for fitness in the future. Phones are typically one or more per person instead of one or more per family like PCs and tablets.’ People own more phones than any other gadget, he adds.”
“Neil Mawston, analyst at Strategy Analytics, says, ‘The days of truly revolutionary innovation may be over for Apple,'” Fottrell reports. “‘Apple today is monitored and copied too closely by the computing and media industries to produce surprise products,’ he adds.”
Read more in the full article here.
MacDailyNews Take: Just getting certain quotes on the record, so that we can refer to them in the future.