Due to the growing stumbling blocks on the global market, the computer company Apple cannot sustain its strong growth in recent years. The company is still developing faster than it was given credit for. Apple revealed that revenue has increased to $83 billion over the past three months during its latest balance sheet presentation.
This is a 2 percent increase compared to last year’s 36%. Apple’s current earnings exceeded the expectations of analysts despite this. The company was unable to resist certain trends in the market. Mac sales declined 10 percent over the past year, for example. This is in line with the market research findings regarding declining sales in the whole PC market.
This is due to, among others, the ending of corona lockdowns’ positive effects, which saw many users switch to the home office to upgrade their hardware and move there.
Services are on the rise
iPhones, which make up about half the sales of the group, saw a slight increase of at least 3 percent year-on. Apple posted the strongest growth in services, however. The company made significant investments to reduce dependence on hardware sales and be able use its installed base, which now stands at a new record. It is not yet clear what the next period will look like.
There are many risks to the business. Apple has large numbers of retail customers, whose purchasing power is significantly affected by inflation. Apple CEO Tim Cook stated that sales are expected to rise in September quarter despite some weaknesses.