It became Apple Inc. (AAPL), founded in 1976, was the first U.S. company to exceed $1 trillion in market value in 2018. However, as the sale...
In the first fiscal quarter of 2020, Apple projected revenue of $85.5 billion to $89.5 billion. The company announced revenue of $91.8 billion and profit of $22.2 billion, an all-time record for both net income and revenue.
New Apple Identification File
App Store and Apple Music lead Apple Services business. In May 2019, Piper Jaffray analyst Michael Olson claimed that Apple had developed its service business to a value of $502 billion, using an analysis that assessed the value of each business unit and then combined it for an overall valuation. At the same time, Olson estimated that Apple's hardware business was only $398.8 billion. This would make Apple's service business worth more than its hardware business.
In fiscal year 2019, Apple recorded sales of $260.17 billion and net income of $55.25 billion. In the first quarter of 2019, earnings were US $4.18 per share; At the time, that was a record for the company. In the first fiscal quarter of 2020, however, share profits rose to $4.99.
For fiscal year 2019, the iPhone business of the company accounted for approximately 54.7% of total sales. Apple's growing services sector accounted for approximately 17.7% of revenue, before Mac, which generated 9.8% of total revenue. The wear, home and accessories sector accounted for 9.4% of sales, while the iPad accounted for 8.1%.
The following is a more detailed look at Apple's five most profitable business lines.
iPhone
Apple's primary product, iPhone, has been ranked among the top five smartphone vendors in the world since 2009. In the first fiscal quarter of 2020 ending December 28, 2019, iPhone sales reached $55.96 billion. Overall, Apple's reported earnings and earnings for the quarter were much higher than Wall Street analysts expected. This was partly due to the popularity of new iPhone models. The first quarter of the fiscal year is a very important period for Apple because it covers the holiday season and the three most lucrative months of the year - October, November, and December.
In previous quarters, any decline in iPhone sales was attributed to a slowdown in China, a longer iPhone replacement cycle, and increased competition in the global smartphone market. The iPhone 11 became the best-selling smartphone of Apple since its launch.
Regarding Apple's holiday performance for the first quarter of 2020, CEO Tim Cook said: "We are pleased to announce Apple's highest-ever quarterly revenue, driven by strong demand for iPhone.
