What happened
Actions of Apple (NASDAQ: AAPL) rose 12.3% in December, according to data from S&P Global Market Intelligence.
The iPhone maker is seeing its shares traded at an all-time high; they have increased by almost 77% this year.
Image source: Getty Images.
And
Apple benefited from the coronavirus pandemic, as sales remained robust due to the increase in people who buy the company’s devices to keep in touch with their loved ones. For the entire fiscal year ended September 30, total revenue increased 5.3% year-over-year to $ 274.5 billion, while net revenue increased 3.9% year-over-year to $ 57.4 billion. These figures show that the technology giant still has room to grow continuously, even with a large earnings base.
What was interesting, however, was the jump in sales of wearables and services, two divisions that saw double-digit revenue increases year on year. Wearables, which include Apple Watch and Airpods, saw revenue increase 25% year-over-year, to $ 30.6 billion, and consumed 11.2% of Apple’s total revenue, up from just 9.4% a year behind. Services, a division that promises constant recurring revenue for Apple, now accounts for almost a fifth of total revenue, up from 17.8% last year.
What now
Apple’s pipeline of innovative products has not slowed down, with news that the iPhone maker plans to create a foldable phone similar to what its competitor Samsung Electronics is offering. The product is supposed to fold like a shell, but it is still at the beginning of its development, as the design of the new phone has not yet been confirmed. The product is scheduled to be launched in 2022 or 2023.
There has also been some excitement around what has been called the “Apple Car”, an autonomous car that Apple has been working on for years and that promises to be a breakthrough in battery technology and automated vehicle technology. Although this project has been shrouded in secrecy, it is rumored that the company is planning to launch this new car as early as 2024. If that is true, it is probably the most interesting product that Apple has launched so far, in addition to its hand-held devices. and wearable.