We all noticed it coming. Despite a world pandemic and financial and political unrest, the indefatigable Apple cash machine would proceed to chug away. Traditionally, the final three months of the calendar yr are Apple’s greatest, and Apple’s been on an upswing in latest quarters. If you positioned a guess that the corporate’s first monetary quarter of 2021 (overlaying the vacation season of 2020) can be an all-time record—nicely, you’d’ve received, however solely a sucker would’ve taken the guess.

All product classes and areas have been up. It was a veritable downpour of up arrows. And but, amid Apple CEO Tim Cook’s continued embarrassment that Apple continues to generate huge gross sales and earnings at a time when a lot of the world is in turmoil, there have been (as there virtually all the time are!) additionally some fascinating issues we will glean about Apple’s enterprise left amid the monetary disclosures and coy asides to monetary analysts. Here are a number of of them.

iPhone Pro is a success

Jason Snell

Apple executives singled out the iPhone 12 Pro and iPhone 12 Pro Max for reward, saying it had a “very high level of interest” from shoppers that led to produce constraints on these fashions and helped drive up the common promoting worth of the iPhone. (By how a lot? We don’t know, as a result of Apple doesn’t disclose precise unit gross sales anymore, however CFO Luca Maestri stated that each unit gross sales and ASPs have been up in the course of the quarter.)

Recently, followers of the iPhone 12 mini (and I’m one in every of them!) have been disturbed by a report that stated Apple was decreasing its gross sales expectations for that smaller mannequin. The assumption on the time was that the iPhone 12 was in all probability doing in addition to the Pro and Pro Max fashions, however Apple most undoubtedly did not embody the iPhone 12 in its reward on Wednesday.

It’s fascinating, however let’s all get a grip: The very first individuals to hurry out and purchase a brand new iPhone are prone to be essentially the most motivated iPhone consumers round, and people consumers are in all probability extra prone to spend some huge cash on high-end fashions. It’s completely doable that the 12 and 12 mini will develop into a much bigger a part of the iPhone product combine because the yr goes alongside. Regular individuals truly purchase iPhones within the spring and summer season, you realize.

Revenge of the “tough compare”

Last quarter, Apple cautioned that iPhone gross sales appeared softer than they really have been, as a result of the 2020 iPhone fashions went on sale lots later than the 2019 fashions. As a outcome, Apple’s quarterly results for 2019 included early iPhone gross sales, and the 2020 results didn’t. That’s what they name a “tough compare” within the monetary expectation-management sport.

But a troublesome evaluate usually turns into a straightforward one. The results launched on Wednesday get to incorporate the preliminary iPhone gross sales surge that had already come and gone in 2019, giving iPhone gross sales progress a little bit of a bounce.

Still, don’t fear—extra robust compares are on the way in which. Maestri warned that whereas the corporate expects a return to typical seasonal patterns in its gross sales in 2021, there are nonetheless a number of areas that may in all probability take a success. They’re Apple’s two greatest progress engines for the previous few years, the Services and Wearables strains.