We all love our Apple products, there’s no doubt. I mean, just take a look at the company’s latest earnings report from last week – people love the gadgets and services that are manufactured and offered by the tech giant.
But like many other large corporations, especially those that are expected to constantly be releasing the next best thing in tech, Apple gets a lot of negative attention from critics.
The good thing is, the iPhone maker doesn’t mind telling us exactly what’s happening right now that’s directly related to the success and opportunities they’re seeing. Often overlooked, the App Store, Apple Watch, and other products are actually doing extremely well – and the big wigs behind the earnings report are quick to remind us.
The App Store is growing faster than ever
We all download countless apps from the App Store – some we need, some we have just to say we got them. In the social media era we’re living in that gives us the constant need to stay connected, as well as the desire to be as productive as possible, it’s no surprise that over 140 billion apps have been downloaded since 2008.
The door has been opened for developers to make apps with less restrictions. For instance, with the release of iOS 8 in 2014, the company allowed third party keyboard applications to be downloaded from the App Store.
With the continued effort from Apple to always push for more creativity, and the company’s willingness to listen to the consumer and provide what they really want, it shouldn’t come as a shock to see revenue growing 40% year over year since the App Store’s release.
The Apple Watch is not struggling
Contrary to what the majority of critics are saying about the Apple Watch, the company’s first major wearable is doing just fine. Last holiday season, the device hit record sales and has stayed on top ever since. It’s doing so well that profit has nearly doubled from Q2 2016 to Q2 2017.
Unlike the iPhone or MacBook, there is no need for customers to get the latest Apple Watch. While the second-generation model does have its own array of great upgrades, the original is still getting a lot of attention and selling like crazy.
The Mac is still on top
Everyone is quick to look at the iPhone’s sales, but the company’s line of Macs and MacBooks should also be getting some attention. Mac sales made up 11% of Apple’s earnings last quarter, and grew 14% from Q2 2016.
As an avid Mac user, this excites me to no end. As the company manufactures better computers to compete with PCs and Chromebooks, we will be able to enjoy the features that come along with them. Seeing Mac sales report such results is a big hint that Apple won’t be slowing down in this segment anytime soon.
All eyes are on Hong Kong
Pantagraph quotes Apple CEO Tim Cook, from the earnings report last week:
“[O]ur performance continued to be weak in Hong Kong, which has been hit a bit harder as the tourism market continues to slump. Also, where the iPhone 7 Plus did well, we didn’t perform as well on some of the previous-generation iPhones. … What I now believe is that we’ll improve a bit more during this current quarter, not back to growth but improve — but make more progress. And we continue to believe that there’s an enormous opportunity there.”
Okay, so not everything on the list is a success, but that kind of comes with the territory when your business is reporting a series of great numbers and a cash withholding of $256.8 billion. Right now the company is setting a plan in place to fix the problems in Hong Kong, and that shows they really mean business.
It was a successful quarter, but they know there is still a lot to be done in the near future. It’ll be cool to see what the next quarter’s earnings report reveals. Will the company’s plans to keep striving for greatness pay off, or will we finally see a slump in success from the Cupertino-based corporation?