So there you have it. A squishy quarter with a lot of threads to pull on.
At the highest level:Revenue and profit fell again, but they were both better than what Wall Street had penciled in. That’s something investors cheered. (And, of course, they love hearing about more money returned to shareholders.)
Apple strongly signaled an upturn to itsbusiness in China, for both the iPhone and the iPad. It stressed several reasons, including positive U.S. trade dialogue with China. (While a finish lineappears in sight, it’seasy to imaginethe two sides drifting apart given how contentious it has all been on many fronts.)
Servicesgot a lot of mentions. We’re in those earlyish-days boom time when growth is attainable and record come more easily.
A lift-your-head-up moment on the Mac. I wasn’t expecting Apple to mention thechip supply constraints. While neither Cook nor Maestri specifically mentioned Intel, they said it was a processor problem. They said the problem has been addressed.
TheQualcomm dealcame up a few times. The upshot: no new details on financial terms or when Apple might release a 5G-enabled iPhone.
Trade-ins were a needle mover.The inference from Cook and Maestri is that pricing moves and trade ins, while never bedrock, weren’t fleeting moves to briefly goose sales.