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Apple earnings call: New records in several countries, but Mac, iPad struggle

May 04, 2023 5:31 PM ETApple Inc. (AAPL)By: Chris Ciaccia, SA News Editor41 Comments

On Apple's (NASDAQ:AAPL) earnings call, CEO Tim Cook said the tech giant generated new quarterly records in a number of new countries, and new March quarter records in others, including India.

Cook noted how important India is to the company's

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Comments (41)

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Everyone trying to keep a straight face while listening to Harris pontificate…
ckarabin profile picture
Remember last year when I said Apple sales growth was slowing and that it would soon start declining? Guess what. Apologies accepted.
@ckarabin true, but nobody cares, they just follow Buffet to PE 30 and PS of 7.

Until they read he sold everything and it will collapse to more sane/safe levels..
Clearview60 profile picture
@DutchGuy2 Buffet admittedly said he was late to the game in buying Apple...Hope you understand many, many people have been Apple shareholders well before he started buying.
@Clearview60 he was in exactly in the time it went from PE 10 to PE 30… he probably won’t be in when it goes back to 10
Huge Apple iPhone 14 unsold inventories at thousands of smartphone retailers in India, China is a clear indication of vanishing demand for iphones across world.
Millennial_Tyler profile picture
Ipads are unaffordable and not that unique anymore.
@Millennial_Tyler I love my Ipad and feel like the price is a bargain.
Matt-Man profile picture
@Millennial_Tyler iPads last forever, original iPad Air still in use
Longbow Archer profile picture
"India is at a tipping point," Cook said.

Bullish for GOOGL which is the market leader by a wide margin.
@Longbow Archer - I don't know about that. Neither Apple nor Samsung will sweat Google's entry into India even if it prices Pixel aggressively. It didn't launch Pixel 4, 5, or 6 in India. And they still aren't assembled in India, and local content laws in India really limit the sales.
Greenery Financial profile picture
@Longbow Archer not even close,
In India if you have an apple phone it is as if you bought yourself white skin (literally) in the mind of the poors,
as if you're elite - super wealthy - as if money is no object to you.

No google phone will ever have that impact unless trademarks fall apart and they slap a apple logo on the back of their phone.

I say this as someone who's lived in Nepal/india/etc region for over 1 year in total. Apple is indisputably the most desirable, everything else is a cheap copy in peoples minds (excluding some rich techie guys).
I have been a stockholder for nearly two decades but I am surprised that all their suppliers are reporting dismal earnings and guidance, yet AAPL comes up with such (relatively speaking) stellar numbers!
If my memeory serves me right, This is the first time I see such a dichotomy and trying to find out how they pulled that rabbit.
I have no plans to sell a single share but one should always try to learn a little.
If anyone can provide an objective reasoning, I'd be grateful.
Good luck to all the longs
@javkoza - Good question. I can only guess that Foxconn being down 11% YoY might be because possibly much or even most of that downturn was in Foxconn's clients that are competitors of Apple. iPhone rose a bit as smartphones fell.
Danoxx profile picture
Not selling a larger range of computers with different form factors, and having a downturn in the total number of Macs sold go hand-in-hand, there will be no growth in Mac computer sales, selling mini’s, a tiny iMac and laptop computers only.

Someone in hardware must be screaming at Tim Cook and Marketing to pull their heads out of dark places. Because there will be no increase in Mac sales without more form factors being offered to the public to buy.
@Danoxx I believe pro level hardware will be released at June’s WWDC: Mac Pro and Mac Studio. Performance needing max users are waiting on new iterations of M2 max and M3 chips. And then there are the VR/AR glasses which might be shown then as well and available in fall for sale. Many regular users haven’t purchased new macs because they want the latest cpus which TSMC is struggling to manufacture, but might produce in volume by the summer and fall.
Danoxx profile picture
@ptnyc Fingers are crossed…..
G H profile picture

There's little money to be made in lower-end PCs. Or laptops. Or phones. Or tablets. They just lower your margins. Consequently, Apple doesn't make them.
The train is rolling on. Great results.
Clearview60 profile picture
Horrific quarter, revenues dropped to a meager $95 Billion. 😁
@Clearview60 that’s a silly comment. It’s all about valuations. 27x is expensive
@goadamgo You pay more for a Mercedes Benz than a Hyundai. I heard you can buy Kodak at a good price!
@goadamgo Focusing solely on a PE ratio is a silly way to invest. That ratio in isolation is close to completely useless.
Hudson Investments profile picture
I am a buyer here since Apple rarely facto make steady gains.
King's Ransom profile picture
Let's go India! As India grows so will Apple, and India is just getting started.
Hudson Investments profile picture
@King's Ransom India is more reliable as a growing middle class will be interested in Apple products and service.
AAPL ... Stay long and prosper !
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