Apple's market capitalization falls by nearly $ 1 trillion thanks to strong service activity

Apple stocks are recovering, bringing the company's market value back to a trillion dollar level, after its service activities generated better-than-expected results in the second quarter, with initiatives such as a new subscription press service offsetting the weaker demand of its flagship iPhone. However, revenues decreased compared to the same period a year ago.

The company has announced a quarterly business turnover of $ 58 billion, exceeding the $ 57.37 billion expected by analysts surveyed by Refinitiv, but down 5% from the same period last year. ;last year. In the second quarter, Apple posted earnings per share of $ 2.46, up from $ 2.36, a 10 percent drop from the year before.

Apple's service sector, which also includes Apple Music, Apple Pay, and iCloud, generated $ 11.45 billion in revenue. Analysts expected a service turnover of $ 11.37 billion. Sales generated by iPhone sales totaled $ 31 billion, roughly in line with expectations, but down 17% from the previous year. Sales of iPad and wearable devices such as Apple Watch have increased.

"Our March results show the continued strength of our installed base of more than 1.4 billion active devices, as we set an all-time record for services, as well as the strong momentum of our Wearables category, Home and Accessories, which opens a new quarter in March. record, "said Tim Cook, Apple's CEO, in a statement.

"We have experienced the strongest growth of our iPad in six years and we are still excited about our portfolio of hardware, software and innovative services. We look forward to sharing more with developers and customers at Apple's 30th Worldwide Developer Conference in June, "he said.

For the third quarter, Apple has announced a turnover between 52.5 and 54.5 billion dollars, exceeding the expectations of Wall Street.

The company's stronger than expected results were achieved through careful scrutiny of the healthy nature of its iPhone business, which has long been Apple's main revenue driver. Before releasing its first quarter results, Apple issued a rare warning, pointing to a drop in demand for the iPhone in China.

In the second quarter, Apple 's business figure for Greater China decreased by 22%, to settle at $ 10.2 billion. Revenues increased slightly year-over-year in America and Japan and declined slightly in Europe.

During a teleconference, Cook said that Apple had found a "positive response" to the price cuts in the Greater China market, adding that the company had seen an "encouraging trend" in iPhone demand as the third quarter approaches.

"We certainly feel a lot better than it was 90 days ago," Cook said about the iPhone business.

Apple stopped disclosing iPhone unit sales last November, arguing that the once-key measure was no longer the best representation of its success, given the recent focus on services. The company unveiled a trio of new TV, information and gaming-related subscription services in March.

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The iPhone maker announced that it would proceed with additional share buybacks of $ 75 billion and declared a cash dividend of $ 0.77 per common share, up 5% compared to last year. Dividends will be paid on May 16th.