Apple had blow out results in the most recently reported quarter. It was a surprise to many, given all the news about their lack of innovation and continued dependency on the iPhone (10 years old—yawn!)
In both their press release and earnings call, Apple used the word ‘record’ more than a half a dozen times. They achieved the highest quarterly revenue in the company’s history and noted that iPhone units sold set a record, improving 5% from last year. Investors ate this up (pun intended) and the stock shot up 6%.
So a lot of people were surprised—how could investors have foreseen the outperformance?
1010data Equity Insights gave investors an advance view into the print:
- Fiscal Q1 had the most transaction volume and some of the highest website visits Apple has ever experienced.
- In December, Apple had the highest conversion rate (% of visits resulting in a purchase) we’ve ever seen, with almost 6% of those visiting Apple’s website actually making a purchase. This is nearly 2x the size of the average conversion rate seen across the prior three years of data.
- December also saw the most unique customers we’ve ever seen, which is an impressive feat from a company who is already well penetrated in the market.
With an iPhone 8 and the phone’s 10th anniversary on the horizon, time (and the data) will tell how many more records are set to be broken.