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Apple reported a solid quarter Thursday. I’ll tell the story with a few numbers.
12%. That’s Apple’s year-over-year quarterly revenue growth, a staggering growth rate for a company Apple’s size. Sales totaled $52.6 billion.
19%. Apple’s earnings growth outpaced its sales growth. It earned $10.7 billion. In one quarter.
$1 trillion. That’s the market capitalization that is suddenly within reach for Apple. The current market value is nearly $900 billion.
210 million. Apple (AAPL) has that number of subscriptions to its own apps as well as those of third-party services. This is a big business that’s growing fast.
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There were qualitative bright spots too. IPads, Macs, and the Apple Watch all growing, which is pretty good for the “duds” in the portfolio. And what used to be called fanboys are waiting in line for the Apple X, which goes on sale today. Apple confidently raised growth targets and drove home the point by explaining that this wouldn’t be possible if weren’t confident it could manufacture the new phone at scale.
Happy days in Cupertino.
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In one month (Dec. 5-6) my colleagues and I will be in Guangzhou, China, for Brainstorm Tech International, the first time we’ve taken our Aspen franchise outside the United States. We’ve posted a preliminary agenda here, and you can see the stars of China technology and a few non-Chinese with China on their minds who will be joining us. These include Sequoia Capital’s Neil Shen, JD.com CEO Liu Qiangdong, Ant Financial CEO Eric Jing, and Airbnb co-founder Nathan Blecharczyk.
I mention this because we still have a few open slots for the invitation-only event. If you’d like to attend, please inquire here or, better, zap me a note.
Have a good weekend.
