Apple will no longer disclose device sales figures

Ivan Schwartz
November 4, 2018

Apple is the world's largest company and they reported a new record for the fiscal fourth quarter of 2018. That beats analysts' expectations of $2.78 earnings per share on revenue of $61.4 billion.

When Steve Jobs took a swipe at Inc.'s Kindle in 2009, he pointed to the online retailer's decision not to report unit sales of its reading device as evidence it wasn't selling many. A higher ASP means customers purchased more high-end handsets such as the iPhone X and the newer XS and XS Max, versus less expensive models like the older iPhone 8 and iPhone 7.

Cook also shared concerns for his company around import duties on key Apple products, and he said that it is an area where the company is sharing feedback with the Indian government. While typically third and fourth quarters are the best for iPhone sales, this festival season has showered its blessings on Chinese smartphone-makers instead of the iconic Apple brand.

The company's CFO Luca Maestri said Thursday that the company would stop reporting these kinds of unit sales in the future. Shares were down about 3.7 percent in after-hours trading.

Tim Cook says that giving details of unit sales is not helpful information as it does not give a clear view of how the company is actually performing.

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The tech giant's strategy of charging more for its phones has paid off, with revenues jumping in the last three months despite relatively flat sales.

"When Apple was doing great, unit sales told a wonderful story". It's possible that the per share price need to break the $US1 trillion valuation is lower due to buybacks. Services revenue for the quarter surpassed $10 billion for the first time, growing 27 percent year-over-year.

"I think they've always been fairly conservative with the guidance they've given out", said Trip Miller, managing partner at Apple shareholder Gullane Capital Partners.

The surprise move by Apple, however, has attracted strong criticism by analysts and journalists who believe that Apple wants to judge its cart by value and not by volume. That's especially surprising when you consider just how much success Apple has found in its wearables business - earlier today, it pointed to a 50 percent lift in Watch sales.

Elazar Advisors analyst Chaim Siegel said that China trade issues could be making it hard for Apple to get the supplies it needs. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif also has an irrational love of Cleveland sports.

Other reports by GizPress

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