After the US stocks on November 2nd, Apple announced the third quarter of the 2023 financial report with revenue of US $ 89.498 billion, a year -on -year decrease of 1%; net profit was 22.956 billion US dollars, an increase of 11%year -on -year.It is worth mentioning that this is four consecutive quarters of Apple’s revenue.Nagpur Stock
Apple quarterly revenue & growth rate changes, titanium media app drawing
Not only that, in the five major markets, only the American market has achieved year -on -year growth; in the products, only the iPhone’s revenue has increased, and other hardware businesses have declined year -on -year.Apple CEO Cook revealed that the iPhone in India in the third quarter set a revenue record in India and was very optimistic about the long -term prospects.
This time, Cook, who did not take the initiative to mention AI, also revealed that Apple invested a lot of funds on the generation AI at the performance conference call.Apple also announced that it will send $ 0.24 cash dividends per share to the company’s ordinary shareholders.However, due to the continuous decline of the overall performance, and the outlook for the next quarter, it is difficult to improve. After the US stock market, Apple’s stock price fell 3.39%.
The income fell in four consecutive, and the Indian market revenue was innovative
Although Apple’s market value is less than $ 3 trillion, the release of each financial report is still the weathervane of the industry and the focus of attention.In the third quarter, the revenue of 89.498 billion US dollars even exceeded market expectations, it was difficult to hide the embarrassment of four consecutive declines.The market is looking forward to when Apple can return to positive growth, but each answer of this node stays next quarter.
In terms of regions, only the American market has achieved year -on -year growth in the five major markets of Apple.The financial report shows that the American market revenue in the third quarter was US $ 40.115 billion, compared with US $ 39.808 billion in the previous quarter.The European market revenue was US $ 22.463 billion, a year -on -year decrease of 1.46%; the Japanese market revenue was US $ 5505 billion, a decrease of 3.4%year -on -year; the revenue of other Asia -Pacific regions was US $ 6.331 billion, a year -on -year decrease of 1%; the revenue of Greater China was 150.84 is 150.84 is 150.84.US dollars, compared with US $ 15.47 billion in the same period last year, decreased by 2%.
In September, Apple officially released the annual flagship iPhone15 series.According to data released by Counterpoint, the iPhone 15 sales data in the first 9 days of the US market showed that the overall sales volume increased by double -digit, and the demand for basic models and Pro (especially Pro Max) models was stable."The new iPhone sales of the new iPhone are currently excellent in the United States for two consecutive weekends. The iPhone 11 and iPhone 12 users will become the main group for two consecutive weekends for two consecutive weekends."
In contrast, as Apple’s third largest market, the Indian market contributed 17%of its performance, but the decline in this quarter was second only to Japan.In addition, in comparison, the Indian market in the last quarter was the area with the highest growth rate.
Speaking of the decline in the Indian market, Cook explained at the call conference that the reason for the change in exchange rates is mainly the impact of Mac and iPad sales at the product level.According to him, the sales of iPhone products in mainland India have reached a new high in the third quarter of the year. In the past fiscal year, the top four best -selling models in the Indian city are iPhone.
As Apple’s main growth market in recent years, Cook also specifically stated at the conference call to India’s revenue to a new high.According to regulatory documents submitted by Apple to the Company Registry (ROC), Apple’s sales in India in fiscal 2022-23 increased 48%in India to 493.21 billion, and net profit increased by 76%to 22.29 billion rupees.At the same time, the report of the Counterpoint also pointed out that the trend of ultra -high -end (more than 45,000 Indian rupees, about RMB 4,000) is developing steadily every quarter, and the market in the third quarter increased by 44%year -on -year.In the third quarter of 2023, Apple hit a new quarterly shipping volume, with more than 2.5 million units.
Counterpoint senior analyst Ivan Lam told the Titanium Media APP that the Indian market is a very considerable growth potential market. For Apple, it is an important potential market for the next ten years.Apple has taken India as a strategic market, and the cooperative manufacturing supply chain has gradually entered India, which is a work that is for sustainable development.Jaipur Stock
Morgan Stanley analysts have released an estimated report saying that in the next 5 years, the Indian market accounts for 15%of Apple’s total revenue and 20%in production in production.Tianfeng International Securities Analyst Guo Mingzheng also said that in 2023, about 12%to 14%of the iPhone worldwide in India is produced in India. If everything goes well, the proportion of iPhone produced in India in 2024 will increase to 20%to 25%.
The iPhone increased against the trend, and Mac’s income fell 34%
In the third quarter, Apple’s net revenue from the product was US $ 67.184 billion, which was US $ 70.958 billion in the same period last year.Dollar.
The proportion of various products, the titanium media app drawing
From the perspective of revenue, the proportion of revenue from services rose to 25%, exceeding the expectations of analysts by US $ 21.35 billion.The growth of service business income has further increased Apple’s gross profit margin.In the third quarter, Apple’s gross profit was US $ 40.427 billion, and the gross profit margin was 45.2%, exceeding analyst expectations.
In the third quarter, Apple’s revenue from Mac was US $ 7.614 billion, a year -on -year drop of 34%.According to IDC’s global PC shipment tracking report in the third quarter of 2023, the global shipments in the third quarter were 68.2 million units, a year -on -year decrease of 7.6%.Apple encountered a large landslide with a shipping volume of 7.2 million units, a year -on -year decrease of 23.1%.
The performance of wearables and home products and accessories is not satisfactory. In the third quarter, the revenue was US $ 9.322 billion, and the expectations of non -analysts did not meet the expectations of US $ 9.43 billion.The revenue from iPad was US $ 6.443 billion, which was US $ 7.174 billion in the same period last year, exceeding analyst expectations.
iPhone has contributed nearly half of its income as Apple’s fist products.In the third quarter, in the context of the global mobile phone, the iPhone handed over a rebellion of the rebellious growth.
The latest study of Countpoint shows that in the third quarter of 2023, global smartphone sales fell in the ninth consecutive quarter, a year -on -year decrease of 8%, and Indian smartphones sales decreased by 3%year -on -year.The financial report shows that the iPhone’s revenue is US $ 43.805 billion, which meets the expectations of analysts and is also a category of*in all Apple products.
In addition to the Indian market in high -speed growth, Cook also revealed that iPhone’s revenue in India has reached a record level.It is worth noting that Cook has come to the Indian market twice this year to communicate with fans and partners. Some analysts believe that this is a signal that Apple shows well under market competition.However, the strong return of Huawei 5G, coupled with the lack of innovation of the iPhone15 series, added a lot of uncertainty to the performance of the iPhone in the fourth quarter.
At the conference call, Cook performed relatively lightly and was very optimistic about Apple’s long -term prospects in the Indian market.However, whether Cook’s optimism can satisfy investors, and a big question mark will be made.
A few days ago, the market research institution GFK data showed that the sales volume of the Huawei Mate 60 series was nearly 1.5 million units in the month, which was more than doubled from the same period last year. The iPhone 15 series sales decreased by 6%from last year.Hayden Hou, a senior analyst at GFK India, said that under the strong sales of Huawei, the iPhone 15 series sales will decrease by 6%. It is expected that the Huawei Mate 60 series will continue to maintain a strong sales momentum in the future.
Cinno Research predicts that in 2023, the sales volume of Apple mobile phones in the Indian smart machine market may reach 45.5 million units, a slight decline of 2%year -on -year. Among them, Apple’s latest iPhone 15 series models will sell for about 10 million units in 2023. Comparison of comparison, comparison,A generation of iPhone 14 series sales have declined by 22%at the same time, decreased by about 2.9 million units.
Recently, it is at the Double 11 Shopping Festival in China, including the official flagship store of Tmall Apple, the Apple Jingdong self -operated flagship store, and the authorized store, which have conducted price reductions and promotion, with a maximum discount of 800 yuan.An Apple authorized clerk told us that the demand for the iPhone15 standard version is relatively small, and the price as soon as the sale has declined.The price of the PRO version was relatively strong at first, but now it is also more than demand.
Regarding the performance of the iPhone15 series after listing, Guo Tianxiang, a senior analyst of IDC, pointed out to the Titanium Media APP that there are many reasons here.The Pro and Pro Max series are still insufficient due to production capacity problems, as well as the concentrated release of Huawei’s competition and Indian consumers in recent years.
Vigorous investment generation AI
Apple "annoying things" constantly
Since the beginning of this year, the popularity of ChatGPT has allowed AI to reach the front desk again, and the market has been waiting for Apple’s "official announcement" in AI.In the first two quarters, Apple did not disclose too much about the generation AI and maintained a more prudent attitude.At the third quarter performance meeting, Cook revealed that Apple is investing in generating the generative AI.
A few days ago, it was reported that Apple was related to the relevant AI -related recruitment, and accelerated the landing of AI technology by mergers and acquisitions of startups.According to data from Jibang Consultation, Apple has acquired more than 20 AI -related companies since 2018.
In fact, in many Apple products, AI has become a key part.For example, the voice function of iOS 17, and the fall detection on the Apple Watch.Cook said AI technology behind these functions, but we did not use AI to promote it.As for the generation AI, it is also investing in funds to carry out various tasks.
In the US stocks’ trading on November 2, Apple’s stock price rose by 2%, but after the performance was released, the stock price fell more than 3%.Throughout the third quarter, Apple’s stock price also fell 12%.It can be seen from the financial report that in addition to the iPhone and service business, Apple’s multiple products are still in negative growth, and Huawei has also affected the iPhone’s high -end market in India, but Cook’s troubles are far more than that.
In September, the French National Frequency Administration issued an announcement saying that the electromagnetic wave radiation value of the iPhone12 exceeded the EU standards, and the body ratio absorption rate was 5.74W/kg, which exceeded the upper limit of the 4W/KG stipulated by the European Union.In this regard, Apple’s attitude was tough at the beginning and questioned.However, in the face of the pressure of the market, Apple eventually "bowed his head to compromise", saying that it would release software updates for the French iPhone 12 users to adapt to the agreement used by French regulators.
In October, the "Apple Tax" once again attracted controversy, and the Dutch Consumer and Market Administration (ACM) said that the drawing system of the Apple App Store violated the EU’s competitive rules.As early as 2021, ACM claimed that Apple failed to comply with its rectification order to the Apple App Store, thereby imposing a fine of 50 million euros in Apple.The Dutch authorities believe that the commission received by Apple to developers has the problem of abuse of power and harm the interests of developers.ACM’s survey may also promote the EU to launch more stringent antitrust investigations.
In the UK, Apple also faces a collective lawsuit for the "speed reduction door" in 2017.It is understood that Apple has launched a power management function to reduce performance in the iOS 10.2.1 system update to prevent the battery aging equipment from trying to obtain the peak power that the battery cannot provide during use.But the questioners believe that Apple has concealed the battery problem of some mobile phone models and limits the performance of the mobile phone.It is reported that the amount of compensation for this lawsuit has increased to 1.6 billion pounds of interest.
In addition, there are troubles such as Apple Watch infringement.The pressure on market sales, coupled with a number of disputes, has also reduced many institutions to Apple’s target stock price.Recently, Morgan Stanley reduced the target price of Apple from US $ 215 to $ 210, and German Bank reduced the target stock price of Apple from $ 210 to 200 US dollars.Due to Apple’s concerns in the Indian market demand, US asset management agency Aubensiimo reduced the target price from $ 220 to 200 US dollars.
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