Even if people are replacing iPhones at a slower pace and not in one massive swoop, the reality is that Apple remains a coveted and growing ecosystem of users, which now measure 2.35 billion active devices according to CEO Tim Cook, a 7% rise over the previous year. Those users are paying for services on those phones and their other Apple devices to the tune of $26.34 billion in Q1, ahead of the $26.09 billion estimated. (As for those other devices, Mac revenues were $8.99 billion vs. 7.96 billion estimated, and iPad sales brought in $8.09 billion vs. $7.32 billion estimated, showing there’s still growth to be squeezed out of that hardware, too.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
