Apple Sees Falling iPad Sales in Fiscal 2022, But Mac Sales Up
Apple saw a sharp decline in iPad sales in fiscal 2022, according to earnings results for the fourth quarter that were shared today. iPads brought in $29.2 billion in 2022, down from the $31.8 billion in sales Apple saw in 2021.
For most of 2022, iPads saw little attention and supplies were notably constrained. Apple refreshed the iPad Air in March, but did not introduce a new design, focusing primarily on the addition of an M1 chip.
No other iPads were refreshed during the fiscal 2022 year, and while the iPad Pro and iPad just received updates, those sales will be counted in the first quarter of fiscal 2023 due to the timing of the launch. Apple has said multiple times this year that it has faced supply issues with the iPad, which may have impacted sales.
In the fourth quarter of 2022, iPads brought in $7.17 billion in revenue, down from $8.25 billion in the year-ago quarter. The year over year comparison is difficult as Apple introduced new iPads during the fourth quarter last year.
While iPad sales faltered in fiscal 2022, Mac sales were up even though there have been a limited number of refreshes. Apple revamped the MacBook Air and 13-inch MacBook Pro models in June, but we are still waiting on refreshes of other models like the Mac mini and the 14 and 16-inch MacBook Pro.
Apple also saw supply constraints with Macs throughout the course of the year, but interest in the M1, M1 Pro, M1 Max, M1 Ultra, and M2 chips has resulted in steady sales. Mac revenue was at $11.5 billion in the fourth quarter of 2022, up $2.5 billion year over year. In fiscal 2022, Macs earned a total of $40.1 billion, up $5 billion from the $35 billion that Macs earned in fiscal 2021. The Mac is attracting new customers, and in Q4 2022, half of Mac buyers were new to the product line.
During today's earnings call, Apple CFO Luca Maestri said that Mac revenue will decline substantially in the holiday quarter on a year over year basis due to the Mac launches that came last year.