The non-iPhone revenue of Apple rushed 17% last quarter. And now, the data from S&P Global Market Intelligence claims that Apple Shares (NASDAQ: AAPL) has risen about 11.1% approximately in the previous month. The steady rise in the stock price this year is based on high and robust growth in services and non-iPhone products.
With the enormous rise in the smartphone market, the company’s growth cannot solely depend on iPhone sales. But that isn’t that big of concern according to the report of fiscal fourth-quarter income.
The revenue and income of the economic fourth quarter depict that the iPhone sales came down by 9.2%, approximately about $33.362 billion. This remarkable decline in iPhone sales was mostly due to an increase of about 18% in services revenue. However, the sales of home, wearables, and accessories saw a considerable rise of about 54% that estimates to $6.52 billion. Total sales were increased by 1.8% from the previous year which was approximately $64.04 billion.
The income per share was $3.03 in comparison to $2.91 last year. Even after the increase of 17% in Apple’s revenue which caused a decline in iPhone sales, the iPhone remains the highest-earning source for the company.
Lately, a lot of attention is grabbed by Apple because of its announcement to expand its services category. An enormous subscriber base is expected to be gained by Apple TV Plus quickly because of its free offering of a one-year subscription to the new buyers of iPhone, Apple TV, iPad, Mac, or iPad touch. The monthly price of $4.99 is economic enough to gain a lot of subscribers.
Apple Card launched this August received a lot of positive feedbacks from the users. With the launch of new AirPods, Apple hit a whole new level as it got satisfying feedbacks because of its noise-cancelling quality. All these services and accessories have contributed a lot to the overall growth of Apple.
The total combined sales of wearables, services, accessories, and home products totalled $70.8 billion in 2019. Moreover, the revenue from Apple TV Plus isn’t included in the total amount.
Even after the decline in growth in the first half, Apple Stock won a lot of investors in 2019 because of its tremendous growth in the second half of 2019. The accelerated growth in the services revenue, improvement in the gross margin of services, and the soaring wearables revenue are some of the reasons for which it succeeded to attract a lot of investors.