Mac revenue set a record for Apple but will decline in the next quarter

Apple has announced its earnings report on Thursday, October 27, with positive numbers for revenue and products. The company had a record revenue of $90.1 billion for the fiscal September 2022 quarter, up 8% year-over-year.

It was an excellent quarter for the Mac. Apple achieved an all-time record of $11.5 billion in revenue, an increase of 25% year-over-year, despite headwinds from inflation and supply chain problems related to COVID-19.

Specifically, the MacBook Air powered by the M2 chip and the MacBook Pros with M1 Pro and M1 Ultra helped boost the company's pent-up demand in the June 2022 quarter.

"Importantly, our investment in the category has attracted both upgraders and customers new to Mac and helped our installed base original time high, said Apple Chief Financial Officer Luca Maestri. "In fact, we set a quarterly record for upgraders while nearly half of customers during the quarter were new to the device."

However, Apple expects Mac revenue to drop during the December quarter compared to 2021. Maestri said that Apple still faces challenges despite the strong September quarter, where the new MacBook Pro models with M1 chips helped boost sales for the past year.

Apple is expected to release new MacBook Pro devices with the newer M2 chips, which will likely help the company during the next fiscal quarter.

Still, the company is ahead of the PC market, which has declined in shipments. Firms like Lenovo and HP saw shipment levels drop year-on-year for Q3 2022.

In the Q3 2022 worldwide PC shipments tracker by IDC, overall PC market shipments reached 74.2 million units, a drop of 15% from the same quarter one year ago.