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Mac sales are down 34% year-over-year, can the new M3 Macs turn it around?

By Kenny Yeo - on 3 Nov 2023, 10:04am

Mac sales are down 34% year-over-year, can the new M3 Macs turn it around?

(Image source: Apple)

Apple just had its earning calls, and while the news was generally good, Mac sales are down dramatically.

For the past quarter, revenue was US$89.5 billion, profit was US$23 billion, iPhone revenue set a new September quarter record, and services revenue reached a new all-time high, but Mac sales were down a worrying 34%.

Specifically, Mac sales in the past quarter (Q4 2023) were US$7.6 billion, which is down from US$11.5 billion a year ago.

In total, Mac sales for the entire 2023 fiscal year were US$29.4 billion. That represents a drop of around 27% from 2022's US$40.2 billion.

Apple's CFO, Luca Maestri, said this decline was due to challenging market conditions and also because of supply chain issues last year, which resulted in a strong pent-up demand for Macs.

This probably explained why Apple had to hold its Scary Fast event and announce its new M3 chip and Macs, even when some people thought it made more sense to do it later.

Apple's CEO, Tim Cook, was optimistic and said: 

I think the Mac is going to have a significantly better quarter in the December quarter. We've got the M3, we've got the new products, and we don't have the compare phenomenon on a year-over-year basis.

Apple recently announced its new M3 chip, which will debut in refreshed MacBook Pros and the 24-inch iMac, and will go on sale next week.

Source: Apple, MacRumors

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