Apple’s Q1 2024 Earnings Call Takeaways | Phones

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Apple today held its earnings call for the first fiscal quarter of 2024 (fourth calendar quarter of 2023), with Apple CEO Tim Cook and Apple CFO Luca Maestri sharing details on Apple’s performance, recent product sales, services growth, and more.

We’ve highlighted the most interesting takeaways from the earnings call.

EU App Ecosystem Changes

Maestri and Cook were asked about possible economic results from the changes that are being made to the App Store in the European Union. Maestri said that the EU represents just seven percent of Apple’s global ‌App Store‌ revenue, while Cook said that impact it is impossible to determine right now because Apple finds it difficult to predict what customers and developers will choose.

“We’ve really focused on privacy, security and usability,” Cook said. “And we’ve we’ve tried our best to get as close it in the past in terms of things that people love about our ecosystem, but we’re going to fall short of providing the maximum amount that we could supply because we need to comply with the with the regulation.”

Vision Pro

Apple CFO Luca Maestri said that several big companies are planning Vision Pro apps for customers and employees, including Walmart, Nike, Vanguard, Stryker, Bloomberg, and SAP. “From everyday productivity to collaborative product design to immersive training, we cannot wait to see the amazing things our enterprise customers will create in the months and years to come,” said Maestri.

Cook said that Apple is “incredibly excited about the enterprise opportunities” with Vision Pro. Walmart, for, example, has a “very cool” merchandising app. There are companies making collaboration and design apps, there are field…

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