Apple having its much anticipated iPhone 16 event today but how much do iPhone sales make up Apple's total revenue yaho finan say Julie hman joins me now with a closer look the short answer is a lot uh Apple is still quite uh ryant on that Apple iPhone Revenue it's also a profitable Pro uh product and high margin particularly with these newer higher margin phones so if you look at the iPhone Revenue Through The Years here you go all the way back to 2014 it was right around 00 billion now in 2023 that had just about doubled to $2.6 billion and as you can see there have been up and ups and downs some years in fact we saw a bit of a decline last year in that iPhone Revenue but if you look at it relative to overall it's remained pretty consistently at least around half of Apple's overall Revenue it peaked by the way at about 66% now that was back in 2015 so that was the biggest proportion since then of course we've seen Apple introduce new products uh like the watch for example and of course beef up its services business as well so that now makes up a much larger proportion now as to whether this new iPhone 16 is going to be a big driver of Revenue and profitability for that matter we talked earlier to Ben bearin about that and he thinks this will power a refresh cycle the Bas iPhone 16 is probably the best Bas iPhone they've ever made which could actually very interestingly lead to a stronger cycle for the base model where this is actually we've actually noticed a mix shift the last couple years to the pro and I think if that happens if this aging base does more opt for iPhone 16 um we might see more of that mix shift either go toward iPhone 16 which again is not something we've seen before and um we'll see a stronger uh Stronger cell cycle for that which again might impact asps slightly so asps average selling prices again so that would help potentially the profitability for Apple uh and those margins by the way overall analysts are project projecting revenue for the full year of$ 39.4 billion do that would be about a 2% increase over 2023 is revenue and of course Josh a lot of that's going to be iPhone sales yeah it was interesting to hear Ben bearon talk about you heard him say that aging base right there Julian just to put a number on that I was talking to Jee mster who you know longtime Apple analyst moner there are roughly 700 million active iPhones out there that are at least 3 years old which is just an incredible number it's part of the reason uh monster I think Ben there too saying some relative optimism because the bull case and parches resting on listen the iPhone 16 so they bet will be compelling enough to get a lot of those people to upgrade we'll see well and and it's whether the Apple intelligence that AI offering is going to be compelling enough you know I was just talking to Josh Schaefer about this in The Newsroom this question of whether it will be enough enough and I think that at this point we just don't know the answer to that you know when they start rolling this out it gets in people's hands Word of Mouth starts to spread critics come out and review the product not necessarily the phone but all of those AI products maybe then we'll start to see uh some traction here and we'll get a better feel for what demand is going to be like yeah part of it is you know you listen to those apple Executives I think part of their job today was to make the case to really explain to the millions of people it really is millions of people who turn into this event explain okay these are these AI features and really explain to them why they're important why they're excelling you know why you need to upgrade as you said Julie will have to wait and find out you know whether they made their case as effective as they could have we shall see all right thank you Julie