Apple has posted the most profitable quarter in American history, but the company’s flagship iPhone devices are starting to experience slowed growth.
Apple said it was the wrong time to have two-thirds of its sales come from outside the United States.
“The challenging global macroeconomic environment is leading to constrained conditions unlike anything we’ve seen, everywhere we look,” CEO Tim Cook said on a conference call with analysts.
Apple was pleased to beat its best quarter ever, but admitted that sales in the current quarter are likely to fall for the first time in 13 years.
Shares fell 3% in after-hours trading.
Here’s how sales stacked up year-over-year.
Final quarter of 2014: 74.5 million iPhones sold
Final quarter of 2015: 74.8 million, up less than 1%.
2014: 21.4 million iPads sold
2015: 16.1 million, down 25%
Sales of the iPad are down for the last 8 quarters.
2014: 5.5 million Macs sold
2015: 5.3 million, down 4%
Analysts had expected a record 6 million Mac sales.
2014: $18 billion
2015: $18.4 billion, up 2%
Apple’s quarterly profit was better than expected and the most profitable quarter in corporate history.
2014: $74.6 billion
2015: $75.9 billion, up 2%
If global currencies hadn’t plunged, leading to a very strong US dollar, sales at Apple would have exceeded $80 billion.
2014: $16.1 billion, making up 22% of Apple’s total sales
2015: $18.4 billion, up 14%, making up 24% of Apple’s total sales
China remains a bright spot for Apple, despite an economic that has lost more than $1 trillion in a very short period of time.
Here’s how Apple profits are looking to stack up over the current quarter versus the first quarter of 2015.
First quarter of 2015: $58 billion
First quarter of 2016: $50 billion to $53 billion
Apple has experienced year over year sales decreases since March 2003.
With Tim Cook expecting iPhone sales to fall for the first time in history, it will be interesting to see what happens to investor confidence in the company as the quarter trudges forward.