Apple (NASDAQ: AAPL) announced its 2021 Q4 financial results on October 28, 2021. According to the announcement, total net sales, operating income and net income were up 29%, 61% and 62%, respectively (YoY, 3 months). Diluted EPS was up 70%.
According to the Apple’s 2020 Q4 financial results, total net sales in 2020 Q4 were sluggish. It was partly due to the delay in launching new iPhone series. Considering these circumstances, the growth in the total net sales in this fiscal year is not evaluated to be good. However, operating income and net income showed good growth. It implies Apple’s efforts to streamline its business.
Looking at sales growth by region, Great China had the highest sales growth of up 83%. This was followed by up 26% in the Asia-Pacific other than Japan and China, and up 23% in Europe. By segments, iPhone’s sales grew the highest, up 47%, followed by the services of up 26%.
In recent years, Apple has been shifting from a business model relying on selling devices to that developing SaaS services. An increase in the ratio of service segment’s sales may bring further improve of gross margin and operating margin.
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