Apple in 2020
Despite the ongoing pandemic, Apple has continued to excel in 2020, posting quality revenue and seeing their stock prices rise to new heights. In its most recent quarterly reports, Apple posted an impressive $59.68 billion in revenue. This translates to an increase of 10.92% when compared to the exact same quarter in 2019. Breaking down this quarterly revenue report by product, it is no surprise to see the main source of revenue being the iPhone, which led in total revenue by product with it being responsible for $28.8 billion alone. The rest of their revenue is as follows: Macs account for $5.35 billion in revenue, the iPad is responsible for $4.36 billion, and Apple’s wearables sitting at around $6.28 billion. The rest of their revenue is on their suite of services, including notable applications such as Apple Music and Apple TV being responsible for $13.34 billion. When considering their gross profits, the numbers look equally as promising for Apple heading forward. The gross profits during that same quarter stood at around $22.68 billion. Compared to the same quarter in 2019, this is a 12.13% increase in gross profits, suggesting a very positive upward trajectory in business created for Apple in the past year.
In the meantime, Apple’s stock has risen quite significantly this year as well. When considering the four to one stock split, Apple shares have risen from $75.09 a share on January 1, to around $114 a share as of September 15.
Apple Event on September 15
At their most recent event, Apple announced multiple new products and features set to launch within the year, with the two highlights being the Apple Watch and the iPad. For the Apple Watch, the company announced the Series 6, which comes with various new applications and hardware upgrades focusing primarily on health and wellness. The highlights included a new sleep app, a handwashing detection program, and the ability to now measure the user’s blood oxygen saturation within 15 seconds. The 6th generation processor should make the watch 20% faster than previous models, and the new silicone band will come without any clasp or buckle. Apple also introduced a series of new face designs, including ones specifically styled for surfers and healthcare workers. With their new Family Setup, multiple Apple Watches can be connected to one iPhone, so children and older relatives can use the device without having to own a cell phone. The Apple Watch Series 6 will be priced at $399, with the cost-effective Apple Watch SC priced at $279.
Another major point for Apple was their new fitness service, Fitness Plus. Fitness Plus will include follow-along workouts for a variety of different exercise types as well as new weekly workouts. It will also include different playlists and beginner programs as well. Fitness Plus will cost $9.99 a month or $79.99 a year. Another major subscription-based announcement was their new, all-inclusive service, Apple One. This service will include iCloud storage, Apple Music, Apple TV Plus, Arcade, News Plus, and Fitness Plus. The price breakdown per month will be $14.95 for individuals, $19.85 for family plans, and $29.95 for their Premier service.
Apple also made major announcements regarding its new line of iPads and iPad Airs. The iPad 8th Generation will feature an A12 Bionic chip and a neural engine for machine learning. Additionally, iPad OS 14 will be the newest operating system for the iPad. For the average customer, the iPad will cost $329, with consumers using it for education paying just $299. The iPad Air will cost $599, and will now come in 5 different colors, a Liquid Retina display, and the touch ID will be on the lock button. With an A14 Bionic chip, the iPad Air will result in a higher overall performance. Specifically, it will lead to a 40% faster CPU and 30% faster graphics. There were slight improvements to both cameras as well. The last major announcement was the introduction of iOS 14 across all other Apple devices.
Other Notable Piece of Apple Product Information
As a company, Apple also announced that it would be entirely carbon neutral across all fronts by 2030. Since then, Apple’s stock has dropped a little less than 1%. As of the morning of September 16, Apple’s stock is sitting at $115 per share, with the public slightly underwhelmed at the lack of news on the next generation of iPhone or Macs.
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.