iPhones and China fuel Apple’s growth, not the Watch
It’s that time again — Apple just dropped its Q3 2015 earnings and despite missing Wall Street’s always-lofty expectations, it’s been a solid three months of growth thanks to the two usual suspects. Say it with us now, folks: It’s all thanks to the iPhone and China. (If you’re the sort who cares, Apple just missed most Wall Street estimates by posting earnings of $1.85 per share.)
Just under 27 percent of the 49.6 billion dollars in revenue Apple generated in the past three months was thanks to Greater China, which is more than double the amount of the pie the country accounted for this time last year. (The addition of a ritzy, massive new Apple store in Tsim Sha Tsui, Hong Kong should help wealthy mainlanders get their fix that much easier, too). Meanwhile, iPhones were still far and away the most sought after gadgets in Apple’s portfolio with 47.5 million moved in a single quarter — not quite as much as last quarter’s blowout but a big lift over the year before. To hear CEO Tim Cook tell it in the early stages of the customary earnings call, the iPhone grew at “almost three times the rate of growth of the smartphone market overall, and we gained share in all of our geographic segments.”
Meanwhile, iPad sales continued to dip for another quarter, but the Mac line is doing more than just hanging steady; it’s actually growing a little bit. Apple moved 4.7 million Macs this time, just a hair better than it did last quarter and last year’s quarter.