It turns out that Big Tech doesn’t need to sell privacy to make money. Selling useful hardware that does what people want is good business, too, which is why Apple’s just reported its most profitable quarter in company history.
A new (Apple) world record
You’ve read the statement, and may have access to the transcript, so I won’t bore you with repeats, other than observing that more than $15.8 billion in services sales, massive iPhone 12 sales and growth in every product category conspired to create the company’s $111.4 billion quarter.
The COVID-19 pandemic has generated huge problems for everybody, but Apple certainly seems to have benefitted from it in the sense that we’ve all been investing in the kind of computing and mobile kit we need to struggle through the story. This also helped Apple beef up services attachments.
Apple in the enterprise
Apple confirmed what we all felt: That people have been spending on Macs and iPads to help them work and learn from home.
The company also discussed its growing place in the enterprise and alluded to the work it has been doing to expand in that space. Apple CEO Tim Cook confirmed: “We’ve been on a multi-year effort in the enterprise and have gained quite a bit of traction there…. We’re very optimistic about what we can do in that space.”
Apple CFO Luca Maestri talked about, “all time highs in the enterprise market,” noting that many businesses have been “shifting their technology investments in response to COVID-19.”
While Maestri didn’t offer many specifics, though he did discuss how businesses are replacing hundreds of millions of desk phones while employees are working remotely. “Mitsubishi UFJ Bank, one of the largest banks in the world, announced that it will be replacing 75% of its fixed phones with iPhones,” he said. “By doing so, it expects to realize significant cost savings by providing a secure mobile platform to employees.”
He also alluded to the growing implementation of employee-choice programs across enterprise IT: “We’re also pleased with the rapid adoption of the Mac employee choice program among the world’s leading businesses,” he said.
Maestri went on…