“Let’s get this out of the way first: Despite what you may have heard, the iPhone is not dying,” Farad Manjoo reports for The New York Times. “Neither, by extension, is Apple.”
“If Apple is now hitting a plateau, it’s important to remember that it’s one of the loftiest plateaus in the history of business. The $18.4 billion profit that Apple reported on Tuesday is the most ever earned by any company in a single quarter,” Manjoo reports. “t’s necessary to start with these caveats because people have a tendency to react strongly, almost apoplectically, to any suggestion of weakness on Apple’s part. Like pickles, cilantro and Ted Cruz, Apple inspires extreme opinion. The doubters are now ascendant.”
“At the moment, Apple’s biggest problem is its own success. The iPhone turns nine this year. The iPad turns six. These devices have made Apple the world’s most valuable company,” Manjoo reports. “Apple’s iPhone business is now so huge it sounds almost fantastical… Two-thirds of the world’s countries have gross domestic products smaller than annual sales of the iPhone.”
Much more in the full article here.
MacDailyNews Take: Apple was at least two years late with properly-sized iPhones. With iPhone 6/Plus in Q115, they had wild success due to massive pent-up demand. That they topped it in Q116 with the 6s/Plus is remarkable, almost unfathomable, and even more so considering the macroeconomic headwinds that are blasting the company in the face.
Anyone who fails to realize the magnificent scope of what Apple accomplished this past quarter simply cannot see the forest for the trees.
SEE ALSO:
Apple pounded by wave of price target cuts – January 27, 2016
Apple’s surprising new $20 billion business – January 27, 2016
Jim Cramer: Apple Inc. is set to outperform – January 27, 2016
Apple CEO and CFO see broad global economic ‘weakening’ – January 27, 2015
Most Apple analysts maintain positive ratings, but cut price targets – January 27, 2015
Piper Jaffray: iPhone resume growth in 2016 despite poor macroeconomy – January 27, 2015
Apple highlights services in search of Wall Street’s love – January 26, 2016
Apple reaps $18.4 billion quarterly profit, the largest ever recorded by a single public corporation – January 26, 2016
Apple beats on earnings; sets all-time records for revenue, net income, and EPS – January 26, 2016
MacDailyNews presents live notes from Apple’s Q116 Conference Call – January 26, 2016
Apple beats Street with all-time record quarterly earnings – January 26, 2016
