| Cult of Mac

Lightning strikes for Apple again, but storm clouds are on the horizon

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Apple warns that supply chain constraints will take a heavy toll in coming months.
Apple warns that supply chain constraints will take a heavy toll in coming months.
Photo: Raychel Sanner/Unsplash License/Cult of Mac

The first three months of 2022 were good to Apple, with revenue setting a quarterly record. But the company warned on Thursday that problems getting components and assembling products will take a nasty chunk out of revenue for the current quarter. The hit will to be between $4 billion and $8 billion.

But there’s also plenty of good news in from the conference call CEO Tim Cook had with investors after Apple’s March quarter results were announced.

Wall Street watches to see how Apple handles global challenges

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Apple MacBook cash dollars money
We'll discover on Thursday how Apple did during Q1 2022. Analysts are moderatly optimistic.
Photo: Ed Hardy/Cult of Mac

Wall Street analysts harbor modest hopes for Apple’s most-recent financial quarter. They predict the company saw its revenue rise by 5% versus the same quarter of 2021.

The iPhone-maker will announce the results of the January-through-March period ahead of Thursday’s quarterly earnings call. Investors will be looking closely to see how the company is managing the ongoing chip shortage, COVID-19 lockdowns at assembly plants, inflation and other challenges.

Today in Apple history: Steve Jobs says Apple is finally debt-free

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Apple is worth more than the entire US energy sector combined
This was a significant moment in Apple's turnaround.
Photo: Ste Smith/Cult of Mac

February 18: Today in Apple history: Steve Jobs says Apple is finally debt-free February 18, 2004: Steve Jobs sends an internal memo to Apple employees revealing that the company is, for the first time in years, totally debt-free.

“Today is a historic day of sorts for our company,” he writes. This marks a big turnaround from the bad old days of the 1990s, when Apple carried more than $1 billion in debt — and faced the danger of bankruptcy.

Chip shortages cripple iPad shipments

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iPadOS 15 split-view multitasking
The global chip shortage hit Apple in the iPads last quarter.
Screenshot: Apple

The lone dark spot in Apple’s otherwise bright Q4 earnings report was iPad. And analysts are out with their estimates of how bad the damage was, with Apple’s quarterly tablet shipments possibly dropping as much as 21% year over year.

The only good news for Apple is that the drop off wasn‘t because of low demand. It couldn’t get the necessary parts to make sufficient devices to meet demand.

Here’s everything you need to know about Apple’s biggest quarter ever

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Despite the challenges of the COVID-19 pandemic, Apple achieved its
Despite the challenges of the COVID-19 pandemic, Apple achieved its "biggest quarter ever," Tim Cook said
Photo: Elena Mozhvilo/Unsplash license

Apple sold a crazy number of iPhones and Macs during the December quarter. And the result is what CEO Tim Cook called the company’s “biggest quarter ever.”

Take a deeper dive into the details to see how Apple was so very successful.

Apple’s boffo quarter easily beats Wall Street expectations

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Apple’s financial results were all the company could ask for.
Multiple products contributed to Apple having a stellar financial results last quarter.
Graphic: Cult of Mac

Apple raked in $123.9 billion in revenue during the last three months of 2021. That’s a year-over-year increase of 11%. More importantly, it’s significantly higher than financial analysts had predicted.

All that revenue led to quarterly earnings per diluted share of $2.10. Again, that solidly beat expectations.

Wall Street expects best-ever Apple quarterly earnings

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Apple MacBook cash dollars money
Apple probably raked in more revenue in the 2021 holiday quarter than in any previous quarter in its history.
Photo: Ed Hardy/Cult of Mac

When Apple reveals its financial results from the holiday shopping season on Thursday, analysts predict the company will announce its best quarter ever.

Whether the Mac-maker meets this lofty goal will have a big effect on its stock price, which has been sliding in recent weeks. 

Apple’s growth in revenue leads to profits but misses expectations

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Apple earnings call Q4 2021: Despite strong iPhone sales, Apple revenues fall short of analyst expectations.
Despite strong iPhone sales, Apple revenues fall short of analyst expectations.
Image: Cult of Mac

Apple revenue during the July-to-September quarter totaled $83.4 billion, up 29% year over year and a new record for the quarter. That lead to an dramatic increase in net income. Revenue from iPhone was up significantly, while iPad, Mac, wearables and services revenue grew by smaller percentages.

But analysts had been expecting more. The consensus was for Apple’s total revenue to be nearly $85B. It’s rare for the company to not exceed these expectations. Apple execs said in a conference call after the announcement that component supply constraints cut revenue by $6B.

Smashed records, short supplies and other takeaways from Apple’s record Q3

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Smashed records, short supplies and other takeaways from Apple's record Q3
Apple broke records in multiple types of revenue last quarter, from Macs to Services. And its installed base of user hit a new record, too.
Photo: Cult of Mac/EverythingSuperMario

Apple just revealed that its made heaps of money last quarter. It broke all kinds of revenue records, and Mac, iPhone and iPad contributed strongly to the total.

But there are also some dark clouds in Apple future. Read on to get the good news and bad from the company’s most recent financial earnings results.