Last month, Apple announced another breakthrough with M1 Ultra, the world’s most powerful chip for a personal computer. The incredible customer response to Apple’s M1-powered Macs helped propel a 15% year-over-year increase in revenue despite significant supply constraints. Apple currently boasts its most powerful Mac lineup ever with the addition of the entirely new Mac Studio.
The iPhone isn’t just Apple’s most important product, it’s the device all other smartphones are measured against.
Despite that, Apple’s biggest hit product right now isn’t the iPhone — it’s the Mac… The reason isn’t complicated — the new Macs with Apple Silicon are amazing. They’re better than really anything else you could spend that much money on. Even the entry-level MacBook Air is probably the best laptop most people should consider buying. It’s definitely the best overall value.
The MacBook Pro, which was released last October, is arguably the biggest hit product Apple has had in a decade. Apple said it set a record for Mac sales, largely driven by the MacBook Pro. That makes sense — Apple basically just gave people exactly what they’ve been asking for, along with the fastest performance you can buy in a laptop.
In the most recent quarter, the iPhone grew by five percent. On the other hand, the Mac grew almost 15 percent. At the same time, the overall market for personal computers was down almost seven percent compared with the previous year.
Even more impressive, Apple said that half of the people who bought a Mac last quarter were “new to the product.” That’s corporate-speak for “they were buying their first Mac.” That’s a lot of people ditching their PCs for a Mac. It’s almost like Apple flipped a switch and suddenly people noticed how good the Mac was again.
MacDailyNews Take: In a few short years, Apple’s gone from disinterested mismanagement to finally refocusing — after being on the receiving end of much consternation — on the one that brung them and it’s obviously paying dividends today!
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That’s why the stock is tanking, big time. Tremendous volume accompanies the dwindling share price as investors stampede to the exits. Remember when AAPL was near $180/share? Those days are loooong gone as $150/share is much closer. Investors have taken a staggering haircut the past few months.
FIRE Tim Cook!
I think to attribute Apple’s stock price to one factor is disingenuous, not to mention firing the CEO without a smidgen of who would be an appropriate alternative. Those days of 180 were exactly that, a few days of the all time high. Meanwhile it’s been sitting above the $150 level and considering the assembly of parameters, I’m happy with the situation. Could it be better? Sure, but then again, it could be a lot worse, it could be hovering at around $100 as some have commented previously on this.
“not to mention firing the CEO without a smidgen of who would be an appropriate alternative.”
That’s a LIE, names are posted here all the time. You just don’t want to hear it.
I repeat: Musk, Forstall or Ive just for starters. Any Top 50 CEO can match Cook on Day One.
Thank you for not responding he who HATES the USA…
Forestall? He just didn’t have the foreskin to go head to head with Timmy “Pipeline’ Cook. Thus, Forstall was forsaken. Personally I think he Forsucked, but as he refused to Foresuck Cook’s pipe, that was the end of that.
Apple is down because the market is down. It’s headwinds from supply chain uncertainty and tainted by association with other tech shares that were simply flying too high. Soon we’ll be into the summer doldrums. It will likely bob around aimlessly for a little bit more. Give it a few months to work its way through, and buy the dip if you can.
Apple’s fundamentals are insanely strong. Every product is being invested in at foundational levels, down to the silicon. Every product line is seeing sales growth. And they’ve got some big invent-whole-new-sectors things brewing.
What a thinking process…bad process that is. Yes, the stock is down, but so is the World…stocks, bonds, this/that company, this country/that one. Expensive energy, food, shipping, commodities money, etc. and you say, FIRE Tim Cook. I’m not a TC fan and I do think he’s destroyed the heart of a company, but your conclusion is a joke…so much so, I wonder if you’re is joking and I’m the butt?
My son Hunter just bought two. A MacBook Pro
and a Mac Studio.
He has a lot of disposable income.
He’s tried to smoke them…to no avail.
Good one Big Guy!!