As iPhone Growth Slows, Apple’s iPad Sales Surge
After weeks of negative speculation on the Street, Apple hit its numbers in its second-quarter earnings released on Tuesday.
The stand-out product this time around, however, wasn’t the iPhone — usually the darling of consumer tech sales estimates. It was the iPad.
Apple sold 19.5 million iPads during the second quarter, 7.7 million more devices compared to the same period a year ago.
That’s a healthy boost, especially when contrasted against the relatively modest gains in iPhone sales; Apple sold 37.4 million iPhones in Q2, just 2.3 million more devices than the company sold in the year-ago quarter.
My guess is, Apple’s lower cost iPad mini likely bolstered those numbers from last year — though there’s no concrete way to tell, as the company doesn’t break those numbers down for us. It’s all iPads. (CFO Peter Oppenheimer said much of that growth, however, was seen in China and Japan, where sales more than doubled over the year.)
And analysts have lots of reasons why they think iPhone sales are in trouble — namely, rumors of cheaper iPhones to come in the future, and cannibalization of new iPhone model sales due to price cuts on previous generations of the device.
Shares of Apple were trading up about 5.5 percent in after hours, at $428.87.