3 Hidden Metrics to Watch For When Apple, Inc. Reports Earnings on Tuesday
3 Hidden Metrics
For Apple Earnings
1. Greater China Revenue With Retail
• How to find it: Usually given on the
• 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
2. iTunes Billings
• How to find it: Always given on the
• 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.
3. iPhone ASP
• How to find it: Manually divide iPhone revenue
by iPhone units.
• iPhone ASP illustrates Apple’s ability to maintain
• Declining ASP could be considered negative, but
recent declines are actually positive because
they are driven by strong iPhone 4s sales in
• Investors have been wanting Apple to grow in
emerging markets, and falling ASP is a natural