Apple concluded a busy week with the release of its fiscal Q4 earnings report, which followed the launch of the initial Apple Intelligence features and several new Macs. The earnings period captured early sales data for the iPhone 16 series, providing insights into the performance of the company’s latest smartphones. The quarter also saw the release of the Apple Watch Series 10 and AirPods 4. CEO Tim Cook mentioned in an interview with CNBC that sales for the iPhone 15 were stronger than those for iPhone 14 in the previous year’s corresponding quarter, with iPhone 16 showing even greater strength than iPhone 15.
The company recorded a revenue of $94.9 billion, marking a new record for its September quarter and reflecting a 6 percent year-over-year increase. This impressive revenue was slightly offset by a one-time income tax charge of $10.2 billion paid to Ireland following a lengthy tax dispute. Most areas of Apple’s business saw growth, except for the “wearables, home, and accessories” category. iPad sales increased by 8 percent, aided by the introduction of new iPad Pro and iPad Air models in the spring.
Apple’s first AI-powered Apple Intelligence capabilities focused on summarization, writing tools, and image cleanup. Additional features like ChatGPT integration and image generation are expected with the release of iOS 18.2 in December. CEO Tim Cook revealed to CNBC that initial feedback from customers and developers has been positive, noting that users are adopting iOS 18.1 at twice the rate of iOS 17.1 from the previous year, based on data from the first three days.
Additionally, the company updated its iMac, Mac Mini, and MacBook Pro models with the new M4 silicon. The Mac Mini received a significant redesign, becoming smaller than ever before. There are rumors that M4 versions of the MacBook Air, Mac Pro, and Mac Studio could be launched next year. Earlier this month, Apple updated the iPad Mini. This array of new hardware, alongside the iPhone 16 lineup and wearables, is expected to potentially enhance Apple’s performance during the crucial holiday quarter.