Apple has posted Q3 18 results, and the outcomes will not be a disappointment to traders, with the Cupertino powerhouse squeezing one other good quarter out of the iPhone, and will get a good one out of the iPad. However Mac gross sales hit a low not seen in years.
Let’s begin with the iPhone. Unit gross sales of 41.three million fall fairly in step with Wall Road expectations (the consensus was round 41.6), however whereas items are up year-on-year just one %, income over the identical interval is up 20 %.
This has pushed up the Common Promoting Value to $724, beating the anticipated ASP of $699. The ASP is, nonetheless, down barely on the earlier quarter ASP of $728, however up on the year-ago quarter ASP determine of $606.
It is very important keep in mind that Q3 is the weakest quarter for the iPhone.
Transferring to the iPad, and whereas unit gross sales elevated 1 % to 11.55 million year-on-year, income dropped 5 %. This additionally dragged the ASP right down to $410, from $451 for the earlier quarter, and likewise down on the determine of $434 the year-ago quarter.
Individuals are shopping for cheaper iPads, maybe as a result of the steam has run out of iPad Professional gross sales provided that they’re all now over a 12 months previous.
Issues are fairly dire for Mac gross sales, which have slumped to a seven-year-low of three.72 million. ASP is nearly unchanged from the earlier quarter (sitting at $1,432 in comparison with $1,434), and is definitely up from the ASP of $1,303 for the year-ago quarter.
This dramatic unit gross sales drop will, nonetheless, renew the narrative that Apple has taken its eye off the Mac and that gross sales have suffered dramatically in consequence.
Apple’s income from “Different Merchandise,” which embrace AirPods, Apple TV, Apple Watch, Beats merchandise, HomePod, iPod contact and different Apple-branded and third-party equipment, hit $three.74 billion, down 5 % from the $three.95 billion from the earlier quarter, however up 37 % from the year-ago quarter determine of $2.73 billion.
This progress fell into the vary anticipated by analysts.