{"id":55821,"date":"2025-01-31T04:01:58","date_gmt":"2025-01-31T04:01:58","guid":{"rendered":"https:\/\/innodebt.com\/?p=55821"},"modified":"2025-01-31T04:01:59","modified_gmt":"2025-01-31T04:01:59","slug":"apple-profits-top-estimates-even-as-competition-dents-china-iphone-sales","status":"publish","type":"post","link":"https:\/\/innodebt.com\/?p=55821","title":{"rendered":"Apple profits top estimates even as competition dents China iPhone sales"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=049330d3-e4ad-44e4-8079-2fe8b84852f9\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Apple\u2019s quarterly profits and revenue crept past Wall Street forecasts, despite lower iPhone sales as it faced mounting competition in China.<\/p>\n<p>The group on Thursday reported revenue of $124.3bn for its December quarter, above analysts\u2019 estimates in a Bloomberg poll of $124.1bn and up 4 per cent from the same period in the previous year. Net income climbed about 7 per cent to $36.3bn, also above expectations of $35.5bn. <\/p>\n<p>iPhone sales of $69.1bn were, however, down slightly and below forecasts of about $71bn.<\/p>\n<p>Revenue for the China region, where Apple has come under increasing competitive pressure from local smartphone makers such as Huawei and Xiaomi, dropped about 11 per cent to $18.5bn.<\/p>\n<p>Apple said it expected low to mid single-digit revenue growth for the March quarter, despite an expected negative impact of about 2.5 percentage points from foreign exchange headwinds.<\/p>\n<p>The December quarter was the first since Apple rolled out Apple Intelligence, its suite of artificial intelligence features that include a partnership with OpenAI. The features have yet to be introduced in languages beyond English, with the company taking a staggered approach. More languages are due to be added in April.<\/p>\n<p>Apple\u2019s chief financial officer Kevan Parekh told the Financial Times the company was \u201cincredibly optimistic about the profound impact of AI\u201d. Parekh stepped into the role this year, taking over from Luca Maestri, who had been in the position for a decade.<\/p>\n<p>The performance of the AI-enabled iPhone 16 was stronger than in markets where Apple Intelligence was not available, Parekh said, suggesting the suite had piqued the interest of consumers. On a call with analysts, Apple chief executive Tim Cook said the trend was a \u201cpositive indicator.\u201d<\/p>\n<p>\u201cThey are still holding on to Apple Intelligence as being a driver of sales and saying they have the data to support it,\u201d said Gene Munster at Deepwater Asset Management. <\/p>\n<p>Apple\u2019s guidance for the current quarter was encouraging, Munster said, potentially offsetting any negative impact on its shares from its iPhone sales miss. Shares rose about 3 per cent in after-hours trading.<\/p>\n<p>Apple\u2019s services business, which includes the App Store, iCloud and Apple Pay, posted record revenue of $26.3bn in the December quarter. Its iPad and MacBook products notched up double-digit growth.<\/p>\n<p>The results come as concerns grow about the impact of Donald Trump\u2019s trade policies. The US president this week promised to impose tariffs on Taiwanese semiconductor manufacturers. Apple\u2019s supply chain relies heavily on exporters in Asia.<\/p>\n<p>Parekh declined to comment on potential tariff risks, saying the company was \u201cclosely monitoring the situation\u201d.<\/p>\n<p>Apple\u2019s results follow a week of turbulence for tech stocks, with a rout on Nvidia\u2019s shares driven by anxieties around AI breakthroughs by China\u2019s DeepSeek.<\/p>\n<p>Its shares were insulated from the broader tech market rout, and the $600bn loss to Nvidia\u2019s market capitalisation this week leaves the iPhone-maker as the world\u2019s most valuable company, at about $3.6tn.<\/p>\n<p>Ahead of Apple\u2019s earnings report, analysts had been downbeat about whether Apple Intelligence, with its staggered rollout that is yet to reach non-English speakers, had provided any meaningful boost to hardware sales in the shorter term.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/049330d3-e4ad-44e4-8079-2fe8b84852f9\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple\u2019s quarterly profits and revenue crept past Wall Street forecasts, despite lower iPhone sales as it faced mounting competition in China. The group on Thursday reported revenue of $124.3bn for its December quarter, above analysts\u2019 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-55821","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Apple profits top estimates even as competition dents China iPhone sales | Innodebt<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Apple\u2019s quarterly profits and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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