Last night, Apple announced its latest financial results, the company posted a good performance in several segments of its products/services, which generally pleased investors. After the financial results, Apple has a tradition of discussing with investors, journalists and sharing interesting information on current projects and management ambitions. This communication allows to recover interesting information on the opinion of the management, behind the scenes and sometimes on upcoming new products.
An impressive performance
Apple unveiled its third fiscal quarter of 2024 last night, the company announced an increase in revenue, so much so, that Apple had its best June quarter since its creation! iPhone sales were down slightly, but there was a nice increase in iPad and Mac sales, plus services literally pulverized Apple’s target.
On the occasion of these magnificent financial results, Tim Cook and the CFO, Luca Maestri spoke on several subjects. We find statements on artificial intelligence, the growth of services that continue to attract new users, compliance with the DMA law for Europe…
Services, Apple’s new asset
If the iPhone has been a sure bet since its launch, Apple can now also count on services!
In this segment, which has been growing steadily for several years and never disappoints, we can count the revenues of the App Store, Apple Arcade, Apple TV+, Apple Music, iCloud, Apple One… The services that mainly offer subscriptions with monthly or annual renewal bring in revenue to Apple every quarter.
several tens of billions of dollars which have a positive impact on turnover, but also on net profit.
Luca Maestri confided after the financial results that Apple’s services are subject to constant improvement. By this, understand additional investments to increase the amount of content available, year-round agreements to have exclusive and unpublished content… The adventure of Apple’s services still has many surprises and great things in store, according to Maestri!
The Digital Markets Act (DMA)
This European law is a real nightmare for Apple: opening the iPhone’s NFC chip, opening the distribution of applications, obligation to authorize third-party payments in apps… Everything that Apple never wanted to do, the European Union demands that the company do!
Despite all this frustration, Apple management believes that it is imperative to strictly comply with the DMA law in Europe. Luca Maestri stated that Apple continues to discuss with the European Commission to ensure Apple’s compliance with the DMA law. Written and verbal exchanges take place regularly between the European Commission and Apple, all in an effort to avoid a hefty fine for non-compliance with the DMA law.
Lastly, regarding the DMA law, Tim Cook said something interesting: Apple is actively working to understand and implement the EU regulatory requirements for Apple Intelligence. Rest assured, the delayed launch of Apple Intelligence is a temporary situation, AI features on iPhone and iPad will of course arrive in Europe as soon as possible.
Apple Intelligence, what Tim Cook said
Regarding Apple Intelligence, Tim Cook said that Apple is looking forward to seeing what developers will do with this new technology. As always, Apple
provides the foundations and developers use them to create magic with ambitious projects.
For Tim Cook, there is no doubt that developers will grasp the importance of AI and massively integrate Apple Intelligence into their applications, with features that will revolutionize the user experience.
Tim Cook also mentioned that investment in Apple Intelligence had increased significantly so that the launch of AI features in the US in the fall would go smoothly.