Apple is another company I have been following for about 30 years now, and this is another one that survived, along with Microsoft, the dot-com bubble. I bought my first mobile phone in 1992, and that was Ericsson from Sweden. I know the rest of that story and know that Apple can go the same way. But not today.
Apple`s revenue in the quarter ended in March, grew nearly 9% YoY, and the company continues to impress. The company said on Thursday that they have strong growth, and that is exactly what I have been wondering about in times of lockdown, covid-19, and distribution challenges that could affect the global demand for smartphones and computers.
The stock went up 4,52% on Thursday, but it went down -by 2,22% in after-hours of trading on Thursday. CFO Luca Maestri warned of several challenges in the current quarter, including supply constraints related to Covid-19 that could hurt sales by between $4 billion and $8 billion. Luca also said that the demand in China was being sapped by the Covid-related lockdown. CEO Tim Cook said that Apple was «not immune» to supply chain challenges.
Apple`s revenue jumped to $97,28 billion YoY. iPhone revenue was up 5,5% and jumped to $50,57 billion. EPS is $1,52.
Apple had a habit of beating Wall Street by 3% to about 8% since 2020, but this time they «only» exceeded the estimates by 0,51%. CEO Tim Cook said the financial performance was «better than we anticipated.»
When will the Apple fall from the tree?