Apple (AAPL)'s fourth-quarter financial report for fiscal year 2024 showed that revenue reached US$94.93 billion, a year-on-year increase of 6%, exceeding the market expectation of US$94 billion, setting a record high for the September quarter. However, affected by the European Court's ruling that Apple needs to pay back taxes to Ireland, FY24Q4's tax expenses increased by US$10.2 billion, resulting in net profit falling short of market expectations.

iPhone revenue performance is outstanding

The iPhone division's revenue reached US$46.22 billion this quarter, higher than the market expectation of US$45.32 billion. Since the iPhone 16 was released on September 20, the performance of the quarter mainly reflects the sales performance of the iPhone 15 and previous models. The market is generally optimistic about the subsequent sales performance of the iPhone 16, and it is expected that the new generation of models will attract a lot of consumer attention.

Artificial intelligence drives demand for replacement phones

Apple launched a number of updates this quarter, including Apple Intelligence features for the iPhone 16 and free iOS upgrades. Wedbush analysts predict that there are about 300 million iPhone devices waiting to be upgraded worldwide, and the iPhone 16 is expected to trigger a wave of "AI-driven super replacement".

Declined stock prices reflects the cautious market sentiment

Although Apple's stock price has risen by 17% this year, the company's stock price fell by more than 1% in after-hours trading after the financial report was released because net profit did not meet expectations. Investors are cautious about high tax expenses and the market performance of new products, and are waiting for the next quarter's financial report to further evaluate the sales of iPhone 16.