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Apple published financial results for the last quarter of last year. The company is still growing, but sales are moving closer to the lower end of conservative estimates. In addition, in the overall evaluation, it is necessary to take into account that this year the first quarter was a week shorter due to Christmas.

The company's net income was $13,1 billion and revenue was $54,5 billion.

47,8 million iPhones were sold, up from 37 million last year, an all-time high, but growth slowed. 22,8 million iPads were sold, up from 15,3 a year earlier. The iPad disappointed most analysts, who expected stronger sales. Overall, Apple sold 75 million iOS devices per quarter, and more than half a billion since 2007.

Positive information is a stable income from one phone, in the amount of 640 dollars. For the iPad, the average income fell to $477 (from $535), the decline is due to a larger share of sales of the iPad mini. The smaller iPad was plagued by lower availability, and Apple expects supplies to level off at the end of the current quarter. There was concern that more older iPhones were being sold, this speculation has not been confirmed and the mix is ​​similar to last year.

The average margin was 38,6%. For individual products: iPhone 48%, iPad 28%, Mac 27%, iPod 27%.

Mac sales fell by 1,1 million to 5,2 million last year. The two-month unavailability of the new iMac was cited as the reason. iPods also continue to decline, to 12,7 million from 15,4 million.

Apple has $137 billion in cash, which is close to one-third of its market value. Positive information also comes from China, where it was possible to double sales (by 67%).

The App Store recorded a record number of downloads of two billion during December. There are more than 300 apps designed specifically for iPad.

The number of Apple Stores grew to 401, 11 new ones were opened, including 4 in China. 23 visitors come to one store every week.

Here you can see a table that shows the changes in the sales of individual products. The author of the table is Horace Dediu (@asymco).

The results are positive, but it's clear that growth is slowing and Apple is facing tougher competition. It can be expected that this year will be crucial for the company, either it will confirm its position as an innovator and market leader, or it will continue to be overtaken by competitors led by Samsung. Anyway, all the rumors about Apple not doing well, iPhone sales falling, turned out to be false.

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