3 Hidden Metrics to Watch For When Apple, Inc. Reports Earnings on Tuesday

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3 Hidden Metrics to Watch For When Apple, Inc. Reports Earnings on Tuesday

  1. 1. 3 Hidden Metrics For Apple Earnings
  2. 2. 1. Greater China Revenue With Retail • How to find it: Usually given on the conference call. • Apple’s reported Greater China segment does not include retail operations. • As Apple expands retail stores in China in the coming years, this total figure will become increasingly important.
  3. 3. 1. Greater China Revenue With Retail
  4. 4. 2. iTunes Billings • How to find it: Always given on the conference call. • iTunes billings continue to rise to new records each quarter, in turn leading to records in recognized iTunes revenue. • Strong billings indicate a healthy and vibrant ecosystem, reinforcing device sales.
  5. 5. 2. iTunes Billings
  6. 6. 3. iPhone ASP • How to find it: Manually divide iPhone revenue by iPhone units. • iPhone ASP illustrates Apple’s ability to maintain pricing power. • Declining ASP could be considered negative, but recent declines are actually positive because they are driven by strong iPhone 4s sales in emerging markets. • Investors have been wanting Apple to grow in emerging markets, and falling ASP is a natural consequence.
  7. 7. 3. iPhone ASP
  8. 8. How to Profit from Apple’s iWatch

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