Apple Q2 FY20 iPhone, Mac, iPad net sales down, yet total is up - how?

Apple reported Q2 FY20 results this afternoon with an odd spread of ups and downs in individual product category net sales. Generally we see one of the three categories down, and the others up, when it comes to iPhone, Mac, and iPad, but this time, things were different. This time, all three were down, and Apple's two other main product category net sales were up.

Compared to this same period one year ago, the three-month period that ended on March 28, 2020, Apple's total net sales were up. Not by a whole lot, compared to other Apple financial reports in the past, but still – the numbers remain intriguing, and surprisingly positive for a company that sells products from storefronts that are largely closed due to quarantine for global pandemic, and have been closed for weeks, or months.

In Q2 FY19, Apple showed $58,015-million (that's $58-billion) in total net sales. In Q2 FY20, Apple showed $58,313-million in total net sales for this same period. Total net sales increased, yet iPhone, Mac, and iPad total net sales decreased.

What went up were total net sales for "Services" and "Wearables, Home, and Accessories" categories. These categories increased to such a degree that they made up for the fall in net sales for iPhone, Mac, and iPad. If this becomes a trend, we could be seeing a very different sort of Apple emerging in the near future!

UPDATE: This might seem familiar, but back in Q4, 2019, it was more like when iPhone falls, all others rise. That's a different situation altogether.

As for the rest of the business here in Q2 2020, Apple also set new all-time and quarterly records for this quarter. Apple's managed to make new records and increase numbers to such a degree that they've generated growth even amid global pandemic – and it'll be interesting to see if they're able to maintain as COVID-19 continues to affect the world through the rest of 2020. Take a peek at the rest of Apple's financial results in our other release right this minute in the timeline below – and stay tuned for additional analysis!