Apple’s June quarter results, released this afternoon, set a few records but fell short of many expectations, including mine.
iPhone and Mac shipments were particularly soft, while iPad sales — 17 million — set an all-time high. Apple sold more “computers” last quarter — 21 million Macs and iPads — than any quarter ever before, including last Christmas.
But the big-picture story is that this is a slower period ahead of the expected new iPhone and potential new iPad this fall (and maybe someday, a television). Apple’s 23% year-over-year revenue growth was its slowest since 12% growth in the June 2009 quarter, and was almost down at Google’s 21% level!
Dan Frommer has some great charts of Apple’s numbers this quarter and on a year/year basis.
Apple’s numbers are very disappointing at first glance but less so upon further review. It’s worth noting that Apple didn’t miss with regard to their own projections, they missed Wall Street’s projections. And as MG points out, this has happened before. Wall Street just seems to have trouble understanding Apple’s product cycles.
Apple may have hit a road bump with their short term share price but on an annual basis things will be fine. We know a new iPhone is coming (hopefully with LTE). New iPods and new iMacs are probably a good bet too. You’ve also got rumors of a new iPad and a potential “iPad mini” which would be a massive launch.
What happens when you combine all that with holiday shopping? Yup, their Q1 is setting up to be an absolute monster.