Apple’s Mac Renaissance

For a company as routinely successful as Apple, continued success can get repetitive. Tonight’s earnings call, for instance, was so full of the usual hyperbole about record revenues that Chief Financial Officer Luca Maestri repeated a segment of his commentary without missing a beat. But within the eye-glazing recitations of Apple’s various records—and, for the TV service, its award nominations—there was one truly standout number.

And that was revenue from Macs of $10.8 billion, a 25% increase on the year-earlier period, making it the fastest-growing part of Apple’s business. More significantly, the growth follows fiscal 2021, which was also a boom year for Macs, when revenue rose 23% to $35 billion. For the first time in many years, the Mac business is growing meaningfully. No prizes for guessing why—Apple’s development of its own chip to power the computer has produced a stunningly superior device.