The iPhone Volume Surprise And Its Limitations
As I expected, Apple did beat the iPhone consensus. The company shipped 31 M units while Wall Street expected 26-27 M units. But Apple's revenue strength was largely limited to Americas and Japan, where sales grew YoY by 12% and 27%, respectively. The worrisome part in the June report was the double digit revenue decline Apple saw in both China and Asia Pacific. Europe was a limp fish, as ...
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