- Apr 12, 2001
Apple on Thursday reported its earnings for the fourth quarter of the 2020 fiscal year, including Mac revenue of $9 billion, a new quarterly record. Apple ended the year with annual Mac revenue of $28.6 billion, an all-time high.
In its annual Form 10-K report [PDF], filed with the U.S. Securities and Exchange Commission today, Apple said increased Mac sales in fiscal 2020 compared to fiscal 2019 were primarily due to higher sales of the MacBook Pro. Apple introduced a new 16-inch MacBook Pro in the first quarter of the fiscal year, followed by a refreshed 13-inch MacBook Pro in the third quarter, both with faster Intel processors and a more reliable Magic Keyboard.
Apple's financial chief Luca Maestri said the company also saw "amazing customer response" to the new MacBook Air during the back to school season.
Apple has thrived during the pandemic in spite of economic uncertainty, with both Macs and iPads recording strong sales as many people continue to work, learn, and connect with family and friends from home. During its earnings call Thursday, Apple said that its products outside of the iPhone grew a combined 30 percent last quarter, despite supply constraints impacting the iPad, Mac, and Apple Watch throughout the quarter.
Apple's Form 10-K also revealed the following details:
- As of September 26, 2020, Apple had approximately 147,000 full-time equivalent employees, an increase of 10,000 employees from one year prior.
- Apple spent $18.75 billion on research and development in the 2020 fiscal year, up approximately 16 percent from $16.21 billion in the 2019 fiscal year. Apple said this increase was primarily due to "headcount-related expenses."
- Apple spent $2.95 billion on warranty claims in the 2020 fiscal year, down approximately 23 percent from $3.85 billion in the 2019 fiscal year.
- Amid mounting scrutiny over its App Store practices, Apple acknowledged that if the commission it collects on certain purchases were to decline, the company's financial results could be "materially adversely affected."
Article Link: Apple Says Record 2020 Mac Sales Attributed Primarily to MacBook Pro