Apple has announced its financial results for the fourth quarter of 2023, which, according to the company's fiscal calendar, ended on September 30, 2023. Apple posted a revenue of $89.5 billion in Q4 2023. That means the company’s revenue has increased by 9.4% in this quarter compared to the last one. However, the tech giant’s revenue decreased by 1% in Q4 2023 compared to Q4 2022. The revenue for the full fiscal year was $383.23 billion, which is 2% lower compared to that of the last year ($394.3 billion).
Reportedly, only the sales of the iPhone lineup have gone up in 2023 compared to 2022, whereas, the sales of all the other types of hardware products, including Mac and iPad have gone down. The sales of iPhones increased 2% this year compared to the last one. The sales of Macs and iPads have decreased by 34% and 10% respectively year-over-year.
iPhone 15 is selling well
The CEO of Apple, Tim Cook, told CNBC that the iPhone 15 series is not only selling very well but is also selling higher than the iPhone 14 lineup. “If you look at iPhone 15 for that period of time and compare it to iPhone 14 for the same time in the year-ago quarter, iPhone 15 did better than iPhone 14,” he said to the publication, turning down previous reports which suggested that the iPhone 15 series wasn’t selling very well.
Apple expects Mac sales to pickup
Commenting on the sales of the Mac devices, Cook said that the overall market for personal computers is “challenging.” “I think the Mac is going to have a significantly better quarter in the December quarter. We’ve got the M3, we’ve got the new products, and we don’t have the compare phenomenon on a year-over-year basis,” he added.
Revenue from Apple services breaks records
As for Apple’s services, which include iCloud, Apple TV+, Apple Music, Apple Arcade, and Apple News+, the revenue from it has gone up by 16% in Q4 2023 compared to Q4 2022, and according to the company, reached an “all-time high.” According to Cook, “Every main service hit a record.” So, that’s another area which is bringing in a lot of money.
Apple is optimistic about the holiday season
In the press release about financial results for the quarter, Cook said: “We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon-neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030.” The statement suggests that the company is confident that it will sell a high number of products this holiday season.
