Apple released its Q4 2019 reports and the company has brought in $91.8 billion in revenue. The company beat Wall Street’s predictions that suggested that Apple would be able to bring $86 billion in revenue that quarter.
The reports were quite a surprise for a lot of people and CNBC’s Mad Money host said, “I was worried that Apple wouldn’t be able to give us enough of an upside surprise to propel the stock higher because it had already run so much”.
The iPhone 11’s $699 price tag helped Apple sell a lot more iPhones than it usually does. Previously, the iPhone XR was priced at $749 which made the newer iPhone 11 with dual cameras, $50 cheaper than its previous model. Also, the company kept the older generation iPhone XR around for $599 which is a great deal for a lot of people.
Apple also released the AirPods Pro in 2019 with a price tag of $249. The wireless earphones are not cheap in any manner but that does not appear to have affected the sales. The AirPods Pro feature Active Noise Cancellation (ANC).
“This is a difficult question because there are several constraints in there, both at the parts level and at the production level, and we’re looking to kind of break those,” said Apple CEO Tim Cook. “When we initially projected the AirPods Pro, we projected a lower mix than we’re seeing and so now we’re having to course correct and it’s going to take a little time.”
Apple also released its credit card service last year which offers special discounts on the purchase of Apple products. It also offers some good rewards such as cashbacks.
“We want to bring the Apple Card to other geographies,” said Tim Cook. “It’s not going to be fast to do that because you have to go country by country because of the banks are different in different countries, but you can bet that we’re working on bringing it to more places.”