Is the iPhone 14 recession proof? Apple earnings may provide a hint
If Apple had not yet released the iPhone 6s, many would be asking if the company is recession-proof.
It seems, though, that the company is proving to be much more resilient than many would have predicted.
In the latest earnings, issued Wednesday, Apple posted profit of $3.9 billion, which was an increase of 19%. This was largely a result of the iPhone 6s’ sale, as Apple sold a total of 63.3 million units.
Apple’s revenue climbed from $10.05 billion to $10.94 billion in the latest earnings report, which showed a 24.5% increase, to bring in $13.09 billion for the year.
The latest earnings is likely to make it appear that Apple is doing quite well on the revenue side, since it has been in a period of great economic uncertainty across the world. The market had been hit with negative news stories around the world that affected the financial markets and the economy.
The earnings were however well-received by the tech community. They showed that Apple was a profitable company, and that it was able to find new ways of innovating.
With the report, Apple revealed how it was able to spend $1 billion in the last quarter. This was done in order to invest in the Apple Watch Series 3, which has been in the pipeline for a long time now. Apple’s new Watch was originally set to be launching in the fall, but the company recently delayed its launch from September to October 2015 due to the iPhone 8 and its price hike.
Apple has been able to buy more Apple watches as it has also been able to invest in research and development. The company has also been investing in the next version of its OS, iOS. The company is also able to upgrade its other products such as the MacBook Air.
One other thing that the company has been able to do that makes it appear to be more recession-proof is that the iPhone 7 has now been sold, and it is still selling well. It seems that Apple is finally able to get the iPhone 7 to be an important part of the company’s revenue.
This also has other benefits. It allows Apple to use its profits to help its stockholders