Apple ended 2019 by smashing records and the iPhone 11 is officially a hit
If rivals were hoping Apple’s unprecedented decade of dominance would end once 2020 rolled around, then the company delivered some pretty bad news on Tuesday.
Apple’s last three months of 2019 were the company’s best ever, by a number different metrics, including the highest ever quarterly revenue posted during the company’s long and illustrious history.
On the back of “exceptional demand” for the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max smartphone releases, Apple brought in $91.8 billion in quarterly revenue, with $55.9 billion coming from iPhone sales. The performance was significantly up on estimates.
Apple won’t tell us exactly how many iPhones it sold during the quarter – it stopped doing so a while back – but it’s clear the iPhone 11 range is proving a bigger hit among consumers than the iPhone XR, XS and XS Max.
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But the success story of the October-December period doesn’t end there. Apple CEO Tim Cook said in a press release: “We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables.”
The Wearables and Home sector specifically was up 37% year-on-year and is now the size of a Fortune 150 company on it own. During the recent period, the success was largely down to the success of the AirPods Pro, and the cut-price Apple Watch Series 3.
In the earnings call following the release, Cook said Apple even had supply chain struggles pertaining to both devices, due to the popularity. He also said that 75% of Apple Watch buyers are snapping-up their first version of Apple’s smartwatch.
Services, boosted by the launch of Apple TV Plus, also had an all-time record by bringing in $12.5 billion in revenue during the period. Cook said during the earnings call that most of the Services Apple provides benefitted from double-digit growth during the quarter.