Apple gave analysts a slap in the face. Despite the lack of support from the iPhone 12, apple delivered a beautiful Q4 report. In the early morning of October 29, Beijing time, Apple’s Q4 fiscal 2020 report showed that Apple’s total revenue this fiscal quarter reached 64.7 billion US dollars. In the Chinese market, there was also a lot of news yesterday that the entire iPhone 12 fell below its release price. The contrast is dramatic. According to previous external analysis, the delayed launch of the iPhone 12 series due to the impact of the new crown epidemic will affect Apple’s financial performance to a certain extent. As a result, some analysts predict that Apple’s Q4 revenue will be around $63 billion. < / P > < p > total revenue was $64.7 billion, up $0.7 billion (+ 1.1%) year-on-year; iPhone revenue was $26.44 billion, up $33.36 billion, a year-on-year decrease of $6.92 billion (- 20.7%); service revenue was $14.55 billion, up $12.51 billion, up $2.04 billion (+ 16.3%); MAC revenue was $9.03 billion, up from $7.07 billion in the same period last year The revenue of iPad was $6.8 billion, up $2.03 billion (+ 29%); iPad revenue was $6.8 billion, up $2.14 billion (+ 45.9%); wearable revenue was $7.88 billion, up $1.36 billion (+ 20.9%); revenue in Greater China was $7.95 billion, compared with $11.13 billion in the same period last year, with a year-on-year decrease of $3.18 billion (-28.6%)。 < / P > < p > Apple’s traditional specialty projects suddenly failed in this quarter, with iPhone revenue down more than 20% year-on-year, and the drop rate in Greater China was as high as 28.6%. But the financial report truly reflects the truth that “God closed a door and left a window”. Mac and iPad revenue set records, with the iPad up 45.9% year-on-year. All in all, the non iPhone line of business performed well, making up for the iPhone’s poor performance. < / P > < p > the iPhone has always been an indicator of Apple’s revenue, accounting for nearly half of Apple’s revenue. For apple, the iPhone is both honey and arsenic. In the quarter, despite a sharp year-on-year decline in iPhone revenue, it still accounted for 41% of total revenue. < / P > < p > according to the Convention of previous years, the new iPhone is scheduled to be released in mid September, the first golden week of new iPhone sales in late September, which will be reflected in the Q4 financial report. However, due to the impact of the new crown epidemic, the launch of the iPhone 12 series was delayed by one month this year. This is also one of the basic reasons why the outside world is not optimistic about Apple’s quarterly results. However, Apple CEO Tim Cook said in a conference call that customer demand for the iPhone was double-digit by mid September, although the iPhone 12 was a few weeks behind last year’s launch. < / P > < p > is consistent with another analyst. Analyst Katy Huberty said the iPhone 12 series was released too late to affect Q4 earnings, but the good news is that the iPhone and iPhone 11 still perform well. < p > < p > iPhone is still the business line that provides apple with the main revenue, and the revenue structure of Apple’s overall business has formed a formula. This quarter’s earnings report lacks some sales data of the iPhone 12, which cannot explain too many problems. < / P > < p > the delay of the iPhone 12 series will undoubtedly have a certain impact on apple and the industry chain, but as far as the iPhone 12 series itself is concerned, we will see the driving force that can not be ignored this year. There are three factors in this. The first is that the iPhone 12 series finally uses 5g, which is an epoch-making change for apple. 5g means a series of changes, including hardware upgrade, software adaptation and application of supporting services, all of which contain huge potential revenue growth engine. < / P > < p > the second is the fourth quarter of this year. Both the United States and China will usher in the “Black Friday” and “double 11”. In the Chinese market, there are even brother shopping seasons such as double 12. The continuous promotion activities, together with 5g support, may further stimulate the demand for the iPhone 12 series. < / P > < p > the third is the rich product line settings of the iPhone 12 series. There are four models in the iPhone 12 series, which correspond to different consumer groups. Apple uses refined price strategy to attack target users accurately and open users’ wallets to the greatest extent. The iPhone 12 is available in the same batch as the iPhone 12 pro, while the iPhone 12 mini and iPhone 12 promax will be available a few weeks later. Regardless of the overall number, there will be more new users than in the past. In the conference call, cook repeatedly highlighted the growth in demand for iPhones, including greater China, which fell 28.6% year-on-year. < / P > < p > looking at the current revenue situation of Apple’s business lines, it can be said that apple is getting rid of iPhone dependence to some extent, and the iPhone revenue is not positively correlated with the total revenue. Apple’s diversified product line settings make it have a strong vitality. Cook is “confident” about the future development of the iPhone. After all, 5g is coming. It is only a matter of time before the iPhone is replaced. < / P > < p > the huge engine of iPhone stalled, and other engines started to work one after another. Whether it’s services, iPads and Macs, even wearable, they’ve grown relatively well. < / P > < p > there is a lot of uncertainty in the new global outbreak, so people stay at home. A number of companies have announced that they will allow employees to work from home, and the return to school season has spurred demand for products such as iPads and Macs. Luca mestrei, Apple’s CFO, said the supply of products such as Macs and iPads was limited due to the impact on the supply chain, but still set a record. Among them, the new MacBook Air and MacBook Pro are outstanding. In addition, more than 75% of the customers who bought Apple watch during the quarter were new users. < / P > < p > just in September this year, apple held its first autumn conference, launching its flagship product, applewatchseries6, and apple watch se, which has a slightly lower positioning. Regarding this move, pinplay once pointed out the purpose of Apple’s product line strategy in the article “let old fruit powder give way, cook just wants to pull more new”. In the future, there will undoubtedly be more and more new users attracted by the strategy to enter Apple’s product ecology. However, apple did not stop there. In mid September, the Singapore government announced its “lumihealth” cooperation plan with apple. In short, through the sports function of applewatch, Singaporean citizens are urged to keep their daily fitness habits. If they stick to the standard for two years, users will get a reward of S $380, which is equivalent to that of applewatch for free. < / P > < p > the cooperation plan seems to be a gift to applewatch. In fact, it is to pull users into Apple ecology through applewatch, so as to tap the consumption needs of more users. Luca said Apple’s wearable business alone has reached the size of a fortune 130 company. < / P > < p > on the other hand, the service business, which is regarded as the second growth engine, also delivered a year-on-year growth of 16.3% in this quarter. For apple, the growth of service revenue does not only mean that it can stand behind the iPhone to support total revenue, but can provide a more objective profit margin. The gross profit margin was 66.7%, twice that of 29.8% for hardware products. Luca said in a conference call that they have increased their investment in services, and the results show that investment can increase gross profit margins. For a long time, China has been regarded as a very important market by apple. Not only because there are Apple’s most important OEM factories, but also because Chinese consumers can provide considerable sales for apple. As a result, in the official news of several quarterly financial reports, we can see that cook will mention the revenue situation in Greater China. During the quarter, revenue in Greater China fell sharply to $7.95 billion, down 28.6% year-on-year. Cook said Greater China was most affected by the delay in the iPhone 12 series. But he also said Apple is confident that greater China will rebound in the coming quarter, as the proportion of new iPhone sales in Greater China is much higher than that in other countries and regions based on last year’s data. At the same time, he mentioned that China’s 5g is very advanced, “it is expected that there will be 600000 5g base stations by the end of this year, and we will enter the market at this time.”. < / P > < p > in Apple’s eyes, the Chinese market still has a strong binding relationship with the iPhone, but the second growth engine service business is rarely mentioned at the same time with the Chinese market, which is a hidden danger of the future development trend of the Chinese market. < p > < p > Apple’s service business is in an awkward situation in the Chinese market at this time. Apple’s packaged service subscription package, appleone, will go online tomorrow, but Chinese users can’t fully experience it. < / P > < p > most of the businesses covered by appleone are not available in the Chinese market, such as AppleTV +, appleenews +, and applefifness +. In addition, Apple’s applecard and other businesses have not been carried out normally in the Chinese market. Icloud is a service provided by apple and Guizhou big data industry development Co., Ltd. < p > < p > the service business introduced by apple in the Chinese market is facing many difficulties, and the impact on apple is actually far more than the revenue decline in Greater China. < / P > < p > the pace of hardware innovation has slowed down, and it has come to a bottleneck period that can not be broken through. Software services are the next battlefield for companies to turn to, including not only apple, but also other smartphone manufacturers. However, if software services can not show their value in a certain market, it means that the market can provide a very limited contribution. < / P > < p > the reason why Apple can retain so many users is not simply hardware, but the comprehensive experience of combining software and hardware. At present, we do not know how Apple will normally promote its service business in the Chinese market in the future, but this step is what Apple must do. < / P > < p > in the next quarter, Apple may be able to alleviate some of the pressure through the performance of the iPhone 12 Series in the shopping season, but the impact of the global epidemic will still put pressure on apple. Supply chain, transportation logistics and the normal development of global 5g are uncertain factors. Although Apple got the best Q4 report, it can’t be too happy. Spontaneous combustion at a Guangzhou Motor vehicle intersection and other traffic lights in Shenzhen

By ibmwl