Wish they'd stated volume. I have a belief the size of the non-US market is now both larger, and probably more profitable for Apple, than the domestic one, and that this may be an irreversible trend.
Time was, China didn't matter: Android got 85% plus of the market and Apple was an expensive must-have for elites. If it's normalised enough now it's down the food chain, remember there are 1billion people in China and only 300million in the USA and so consumer numbers would probably be in ratio: 3x the market size.
India can't be far off. Which makes me think (with some confidence: misplaced?) the value of the non-US markets to Apple, once you factor Europe in, is significantly larger than the "domestic" market.
I'm wondering how much of that is accounting tricks like transfer pricing. I agree on those figures taken at face value there's a hill to climb outside of America but it may also be a saturated US market and growth lies elsewhere.
Wish they'd stated volume. I have a belief the size of the non-US market is now both larger, and probably more profitable for Apple, than the domestic one, and that this may be an irreversible trend.
Time was, China didn't matter: Android got 85% plus of the market and Apple was an expensive must-have for elites. If it's normalised enough now it's down the food chain, remember there are 1billion people in China and only 300million in the USA and so consumer numbers would probably be in ratio: 3x the market size.
India can't be far off. Which makes me think (with some confidence: misplaced?) the value of the non-US markets to Apple, once you factor Europe in, is significantly larger than the "domestic" market.
https://bullfincher.io/companies/apple/revenue-by-geography says $167B in the Americas, 43% of global revenues in 2024. That is across all products but the gap to 50% is so big that I don’t see the fraction for iPhones hitting 50%.
I'm wondering how much of that is accounting tricks like transfer pricing. I agree on those figures taken at face value there's a hill to climb outside of America but it may also be a saturated US market and growth lies elsewhere.