Jason Snell, Six Colors:
Apple’s fiscal results are out. The company generated $83B
in revenue. Compared to the year-ago quarter, Mac sales were down
10%, iPad sales down 2%, iPhone up 3%, Services up 13%, and
Wearables down 8%.
At a glance it looks bad that Mac revenue is down 10 percent year-over-year. M2 MacBook Airs didn’t go on sale until July, which is Q4, but I don’t think that’s relevant to this dip. (Most M2 MacBook Air configurations are backordered about two weeks, but I think that’s because of supply chain bottlenecks, not unexpectedly high demand.) The dip is because so many businesses and consumers bought new laptops during the pandemic because they needed them for work-from-home and school-from-home. The big tell on that for Apple is the monster quarter the Mac had back in the July–September quarter in 2020. That was the quarter before Apple unveiled the first M1 Macs (including the bestselling MacBook Air), but after Apple told the world that they’d be shifting the entire Mac platform to its own silicon by the end of the year.
I realize a lot of normal people would have bought MacBooks in that quarter of 2020 even if COVID hadn’t happened, because they’re not nerds and didn’t know or care about Apple silicon vs. Intel, but that quarter was record-breaking for Mac sales. Sales weren’t just up year-over-year, they were up 29 percent!