Apple Grows Across the Board

Thanks to record-breaking iPhone sales, Apple reported the best quarter in its history, topping $100 billion in revenue for the first time. After pushing the launch of the iPhone 12 back to October due to the COVID-19 pandemic, Apple shipped more iPhones during the holiday quarter than ever before, with market researcher IDC putting the total at 90 million units.

It wasn’t just the iPhone that helped Apple fly by the $100 billion milestone for the first time. The company posted strong results across the board, with the iPhone segment’s 17-percent growth actually the weakest of the pack. The long-forgotten iPad made a strong comeback, with revenue growing by more than 40 percent year-over-year thanks to the popularity of the latest iPad Air, which was also launched in October.

As the following chart shows, the iPhone accounted for nearly 60 percent of Apple’s revenue last quarter, with the company’s services now the second largest contributor to overall sales. Wearables, Home and Accessories, the segment including Airpods, Homepods and Apple Watches, also continued its strong run, growing 30 percent to $13 billion.