Apple reported better-than-expected quarterly earnings, with revenue reaching $119.5 billion. Analysts had expected revenue of about $117 billion. Profits climbed to 33.9 billion versus $29.9 billion a year earlier.
The iPhone brought in $69.7 billion; services sales rose to $23.1 billion. Macs and iPads did over $7 billion each. The Apple Watch did a lot better at $11.9 billion.
In the quarter, Apple launched its iPhone 15 line, Apple Watch Series 9, Apple Watch Ultra 2, AirPods Pro 2, the M3 iMac and the 14″ MacBook Pro, the M3 Pro and M3 Max 14 and 16″ MacBook Pro. No new iPads were released in calendar year 2023. Sales of the AR glasses Vision Pro have just begun.
Apple is expected to announce new products next month, including a new iPad Pros and a MacBook Air with M3 chip. The current 13″ MacBook Air was released in July 2022, while the 15″ MacBook Air was launched in June 2023.
Apple is expected to unveil iOS 18 (codenamed: Crystal) at its developer conference this spring, which would be the most ambitious update in years. Apple reportedly plans to add a host of new artificial intelligence (AI) features, including an updated version of Siri, which is more intelligent and can use a new AI system based on large language models, AI features in the Messages app, to answer questions and complete sentences automatically, AI features in Apple Music to create automatically generated playlists and AI features in the iWork apps, including Keynote and Pages.
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