Apple's Sales Are Growing Despite iPhone Decline

Apple can deliver growth, even if its business with iPhones subsides. Profit declined throughout the year.

Apple achieved a sales increase of 1.8 percent to 64.04 billion US dollars. The company announced on October 30, 2019, after the close of trading on the stock exchange in New York known. iPhone sales dropped 9.2 percent.

Earnings dropped 3 percent to $ 13.69 billion, yet exceeded analyst expectations. "We completed a seminal fiscal year in 2019 where we achieved the highest sales of all time in a fourth-quarter in Services, Wearables, and iPad," said Apple's Chief Executive Tim Cook. "We are very optimistic about the holiday quarter." It was also the first time since Cook took the lead in 2011 that Apple's earnings have fallen in all four quarters of a fiscal year.

Apple said that the new iPhone 11 models would be well received and made a forecast for the current period that far exceeded analyst estimates. Revenue is expected to be between $ 85.5 and $ 89.5 billion for the period, up from $ 84.31 billion in the year-ago quarter.

There were fears that the new iPhone models launched in September would not be successful due to fewer new features. The iPhone still accounts for more than half of Apple's revenue.