Apple’s fourth quarter 2023 earnings showed a revenue increase for iPhone, but all other hardware divisions were down year over year — with the Mac hit particularly hard.
Apple reported a record September earnings quarter on Thursday, with iPhone revenue up year over year — even with just a week or so of iPhone 15 sales factored into the numbers. But all of the company’s other hardware divisions were down, and as CNBC noted, overall sales were down for the fourth consecutive quarter. The company brought in $89.5 billion in revenue overall for the quarter. CEO Tim Cook told CNBC that the iPhone 15 lineup is showing stronger early momentum than the 14 series.
Cook described the current PC consumer market as “challenging.” “I think the Mac is going to have a significantly better quarter in the December quarter,” Cook told CNBC. “We’ve got the M3, we’ve got the new products, and we don’t have the compare phenomenon on a year-over-year basis.” Cook claimed that the Mac business was unusually strong at this time last year. With no new recent models to speak of, iPad revenue fell by 10 percent.