Apple is the richest company in the world.
Apple released its June quarter 10-Q on August 1, the day after earnings (it has been doing this for a number of years).
iPhone unit sales of 41.3 million could initially be viewed as a little below expectations of 42 million, however, two key items need to be taken into account. First, channel inventory decreased by 3.5 million units so sell-through was 44.8 million.
More important, its ASP, or Average Selling Price, was $724. This was only a 1% decline from the March quarter’s $728 ASP and much less than the 7% decline its ASP has been the past two years. The iPhone X must be selling well.
Services revenue was $9.5 billion, up 31%. Even with a one-time benefit of $236 million it increased 28%. Another strong quarter and accounted for 18% of total revenue.
