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Apple reports fourth quarter results

(www.apple.com)
176 points mfiguiere | 2 comments | 30 Oct 25 20:34 UTC | HN request time: 0s | source
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haunter ◴[30 Oct 25 21:04 UTC] No.45765331[source]▶
Kind of telling that

1, the iPhone outsells every other category by 5-7x ratio, and the Mac (which includes everything from Macbooks to Mac Minis to iMacs) barely sells more than the iPad.

2, Services (iCloud, apps, music, TV shows etc.) now bigger than every other category, except the iPhone, combined

Basically 76% of the sales are iPhones and Services

(millions)

iPhone $209,586

Mac $33,708

iPad $28,023

Wearables, Home and Accessories $35,686

Services $109,158

Total $416,161

Next 5 years or so (or even less) both the iPad and the Wearables, Home and Accessories category will overtake the sales of Macs.

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tpurves ◴[30 Oct 25 21:35 UTC] No.45765662[source]▶
Around a decade ago, even as they were just launching Apple Pay, Apple was trading at a multiple barely over 10x. Street was valuing Apple like a manufacturing OEM company. I remember buying a small chunck of shares at the time thinking, this is crazy, just the services revenue off of owning these platforms is going to become massive one day.
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1. maximus_01 ◴[30 Oct 25 21:57 UTC] No.45765879[source]▶
Good investment decision and obviously the street was very wrong, but the reason the multiple was low was because of concerns earnings were at risk from a) their issues in China (which they solved, at least for now, but was a very valid concern at the time) and b) android eating them (there was a narrative they were about to be blackberried, or that android was doing what windows did to mac). There are good reasons why that didn't happen.
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2. hnfong ◴[02 Nov 25 08:39 UTC] No.45788787[source]▶
IIRC, tech in general was trading at very low multiples 10 years ago. Microsoft was also ~ 10, and Google and Facebook were probably < 20 as well.