Executives said they also would quit giving the number of iPhones, iPads and Mac computers, leading to a further drop in the share price, since iPhone unit sales was long the key indicator of quarterly success.
Withholding that number will make it impossible to calculate the average selling price of phones, another key measure. Apple executives said unit sales are becoming less relevant as customers buy bundled products that include subscription services such as Apple Music.
Apple said it would start giving cost-of-sales data for its services business, an important metric for subscription businesses. But investors reacted negatively.
“Companies typically stop reporting metrics when the metrics are about to turn. This is not a good look for Apple,” said analyst Walter Piecyk from BTIG Research.
For the quarter ended in September, Apple brought in $62.9bn in revenue and $2.91 per share in profits, beating expectations of $61.5bn and $2.79, respectively.
Apple sold 46.9-million iPhones in the fiscal fourth quarter, missing analyst expectations of 47.5-million iPhones, according to FactSet. But the average selling price of iPhones was $793, well above analyst estimates of $750.78, according to FactSet.
“Our worry is there must be a limit to Apple’s pricing power,” said George Salmon, an analyst at Hargreaves Lansdown. “The group is now charging close to $800 per phone, and while that’s helping revenues climb despite flat sales volumes, one has to wonder how the strategy to shimmy up the price ladder fares in a downturn. If consumers start feeling the pinch, those price tags could put the punters off.”
In an interview with Reuters, Cook said his caution on holiday sales was in part due to Apple’s earlier-than-normal launch of its top-end iPhone models, the XS and XS Max.
Cook also said foreign exchange rates would have a $2bn negative impact on