When will Apple fall from the tree?

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?

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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