What Goes Up
What I don’t get is why Apple gets singled out for its singular success, but other companies don’t. 92 percent of Google’s revenue last year came from online advertising. And more importantly, I don’t get why Apple’s non-iPhone businesses are so quickly written off only because they’re so much smaller than the iPhone.
Apple’s total revenue for last quarter was $51.5 billion. The iPhone accounted for $32.2 billion of that, which means Apple’s non-iPhone business generated about $19.3 billion in revenue. All of Microsoft in the same three months: around $21 billion. All of Google: $18.78 billion. Facebook: $4.5 billion. Take away every single iPhone sold — all of them — and Apple’s remaining business for the quarter was almost as big as Microsoft’s, bigger than Google’s, and more than four times the size of Facebook’s. And this is for the July-September quarter, not the October-December holiday quarter in which Apple is strongest.
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Nothing in the world compares to Apple’s iPhone business, including anything else Apple makes. But a multi-billion-per-quarter business here (Mac), a multi-billion-per-quarter business there (iPad), a “Services” division that generates more revenue than Facebook, and an “Other” category (Watch, Apple TV, Beats, iPod) that booked $3 billion in a non-holiday quarter — and it’s clear that Apple’s non-iPhone businesses, combined, amount to a massive enterprise.
Wow.
Update (2015-11-14): Landon Fuller:
It’s not like Apple’s non-iPhone segments are totally independent of changes in the iPhone market, though.
