“Coverage of Apple’s second-quarter earnings has focused on the record slump in iPhone sales, rising sales of services and accessories, and a bullish revenue forecast for the current quarter,” Theron Mohamed writes for Business Insider. “But stock-watchers may have missed a hidden gem in the tech giant’s results: the iPad.”
“Sales in Apple’s tablet division soared 22% to about $4.9 billion in the first three months of 2019, the fastest pace of growth in six years, CEO Tim Cook said on the company’s earnings call,” Mohamed writes. “More than half of its customers were first-time iPad buyers, he added, which boosted the base of active iPad users to an all-time high.”
“Strong tablet sales were ‘fueled primarily by the great customer response to our new iPad Pros,’ said CFO Luca Maestri on the earnings call,” Mohamed writes. “The latest model’s resolution, processing power, and support of Apple Pencil and Smart Keyboard make it a popular replacement for laptops with both consumers and professionals, he added.”
Read more in the full article here.
MacDailyNews Take: That more than 50% were first-time iPad buyers is important especially because some of those are “new to Apple,” meaning the iPad is helping to add to Apple’s installed base which will further help to fuel Services.