Although economists can’t agree whether a global recession is on the way, it’s definitely a possibility. But Apple execs don’t seem to have a lot to worry about – market analysts remain generally upbeat about the company.
Here are comments from a range of experts that are sure to warm Apple CEO Tim Cook’s heart.
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.
Apple brought in $97.3 billion in revenue during the January-to-March period. That’s a new record for March-quarter revenue. And it’s an increase of 9% over the same period of 2021.
The company also set March-quarter records for iPhone, Mac, wearables and more.
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.
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.
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.
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 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.
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 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.
