Apple has been performing well despite the global pandemic. The company is expecting a 50% sales jump, where other companies are struggling badly from the global chip shortage.
On Tuesday, the company said it tallied nearly $39.6 billion in iPhone sales during the three months ended June 26, up 50% from the same time a year ago. And now, LG will also start selling Apple products at their flagship LG stores.
Apple said it notched profits of $21.7 billion, nearly double from the same last year. According to Cnet, translates to $1.30 per share in earnings, off $81.4 billion in overall revenue, which itself was up 36% from last year. That was also well above what analysts had been expecting the company to report, which on average was $1 per share in earnings and nearly $73 billion in revenue, according to surveys published by Yahoo Finance.
During the time of the pandemic, iPhone 12 series was sold like hotcakes. the company reported the highest sales and profit in its history during last year’s holiday shopping season. Not only just iPhones but iMacs and iPads were also sold in huge numbers because everything went from work from home strategy. The tech giant tallied $7.4 billion in iPad sales, nearly 12% from the same time a year prior. The Mac, meanwhile, notched $8.23 billion in sales, up 16% from last year, the highest Mac sales ever during the winter months.
Other parts of Apple’s business are running smoothly as well. Wearables, home, and accessories have jumped 36% to nearly $8.8 billion. The company’s profitable services business also rose, nearly 33% to $17.5 billion in revenue.
Apple’s CEO, in a statement. He’s expected to discuss more details about the company’s results on a conference call with analysts later Tuesday.
“It is remarkable that the last four quarters for Mac, have been its best four quarters ever,”
“This exceptional level of sales success has been driven by the very enthusiastic customer response to our new Macs powered by the M1 chip, which we most recently brought to our newly redesigned iMac.”Luca Maestri – Apple CFO, discussing the company’s new records despite chip shortage issue.
Since iPhones are launched only once per year and Android smartphones roll out almost every 3 months or so. The demand-supply of Apple isn’t hurt as bad as other tech companies including Play Stations and Automobiles as well.
Where Samsung is facing major difficulties, they have even temporarily discontinued the Note Series. Apple has nearly a solution to tackle every problem. In spite of “significant” supply constraints during the quarter, Apple CFO added,
“We also started shipping our new iPad Pro powered by the M1 chip and customer response has been outstanding.”
Not only just getting more profits only, but the company is also spending a lot to tackle the demand-supply issue.
“We’re paying more for freight than we’d like to pay” but component costs continue, as an aggregate, to decline.”
“In terms of supply constraints and how long they will last, I don’t want to predict that today. We’re going to take it sort of one quarter at a time and, as you would guess, we’ll do everything we can to mitigate whatever set of circumstances we’re dealt.”Tim Cook – Apple CEO
Since the arrival of the delta variant, the company is delaying its return-the-office strategy and plans to stick to the work-from-home strategy. Other companies including apple are expected to return to their usual work in October but schedules may change in response to worsening conditions.
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