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Home ConsumerTech Phones

Apple Set to Reveal Strongest Quarterly Growth in Two Years, iPhone 16 Performance

…Anticipating 5.7% Revenue Increase

by Joan Aimuengheuwa
October 29, 2024
in Phones
0
Apple Set to Reveal Strongest Quarterly Growth in Two Years, iPhone 16 Performance
Source: Apple

Source: Apple

UBA
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Apple Inc. is set to reveal a surge in revenue this Thursday, anticipating its strongest quarterly growth in two years. 

While demand for the iPhone has shown a resurgence, particularly in China, this upcoming report will disclose the early sales performance for the recently launched iPhone 16 series and provide insight into Apple’s outlook for the coming quarter. 

The report is expected to address issues concerning the company’s progress in integrating its Apple Intelligence features, seen as essential to maintaining Apple’s competitive edge in the leverage of artificial intelligence.

The focal point of Thursday’s announcement will be guidance for the first fiscal quarter, a period where Apple has historically seen high demand, but which is now clouded by questions over its AI strategy. 

Unlike competitors including Samsung and Microsoft, which have taken up AI-driven product enhancements, Apple’s approach has been more measured.

Analysts, however, predict that Apple will remain positive about its current cycle, especially with both the iPhone 16 and the emerging Apple Intelligence functionalities.

In the U.S., Apple recently launched a limited version of Apple Intelligence for English-speaking users. However, this roll-out is not yet available in major international markets, including China and Europe. 

The partial deployment, coupled with competition from Chinese brands like Huawei, Vivo, Xiaomi, and Honor, has prompted assumptions that some consumers might postpone purchases until 2025 when the feature becomes widely accessible.

Industry projections reveal that Apple’s iPhone sales will show a modest 3.8% increase for the fiscal fourth quarter, ending a two-quarter downturn. Total revenue is expected to grow by approximately 5.7%, with the Greater China region contributing significantly. 

Analysts also note that some iPhone models, including a variant of the iPhone 16 Plus, benefited from promotional discounts on platforms such as Pinduoduo, likely enhancing Apple’s market position. This contributed to Apple securing the second-largest market share in China during the July-to-September period, according to IDC data.

Additional revenue growth is expected from other product lines, with iPad sales projected to climb 10.1% to $7.09 billion, fuelled by new models offering enhanced performance. 

The services sector, which includes the App Store, is forecasted to see a 13.3% increase, albeit slower than previous quarters. This segment is facing new challenges, particularly in Europe, where regulators have charged Apple with violating antitrust regulations.

Further investigation surrounds Apple’s exclusive contract with Alphabet, making Google the default search engine on iOS—a deal now under investigation in the U.S.

Added to this, Apple’s financial report will reflect a $10 billion tax charge related to a European Union court ruling against Apple in its tax dispute in Ireland.

With these factors, the Apple quarterly growth results will provide a view of both its short-term performance and its approach to sustaining growth in the competitive and AI-focused tech sector.

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Tags: appleApple intelligenceApple Quarterly GrowthApple Revenue IncreaseiPhone 16
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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