Apple achieves highest sales in a quarter ever, despite the global supply crunch.
Apple products sold like never before, especially laptops that sold very well in the last quarter, Apple reports.
Apple was able to show record results, despite disruptions in global supply lines. Apple generated sales of $124 billion (1111 billion kronor) in the fourth quarter, more than $5 billion more than expected.
Apple’s turnover is the highest in a quarter ever.
Apple beat analyst estimates in all product categories, except for the iPad. Earnings came in better than expected at $2.1 per share.
“Record results for the quarter were made possible by our most innovative suite of products and services ever,” said Tim Cook, Apple CEO.
The company rewards shareholders with a dividend of $0.22 per share.
Apple’s services, which include fees for iCloud, Apple Music, and the App Store, continued to grow sharply, up 25% to $19.52 billion ($174.9 billion).
Services is Apple’s most profitable business unit, and the increase contributed to a higher-than-expected gross profit margin for Apple.
Apple CEO Tim Cook has done surprisingly well, despite major problems in global supply lines.
Supply problem alert
After Tesla presented the results on Wednesday, in which the company reported major problems in its supply lines, there was significant tension over whether Apple might encounter similar problems.
Apple previously warned that chip shortages would affect it as well, and that sales could drop by $6 billion or more because of it, according to Bloomberg.
– Apple CEO Cook said our biggest problem is access to semiconductors CNBC.
He pointed out that the previous quarter was worse than before, but the March quarter would be better in terms of semiconductor supply.
During the October-December quarter, Apple released several new products. Among these was the iPhone 13.
Apple is one of the most important stocks in the US technology sector, and the stock market in general.
The past few weeks have been particularly turbulent for the tech-heavy Nasdaq, which is down more than 14 percent this year. The US Federal Reserve’s interest rate meeting on Wednesday contributed to further turmoil, as Central Bank Governor Jerome Powell did not want to rule out a series of rate hikes next year.
arrow rose
In trading after the US stock exchange closed, the stock rose 2 percent after the results were presented directly.
The impression has shifted in a positive direction when supply problems appear to be improving faster than originally thought, Barclays analyst Tim Long says before the report, according to Market Watch.
Of all Apple’s products, growth was the strongest for the laptop line, which saw sales grow 25% from the previous year to $10.8 billion.
The company did not provide any guidance or guidance on where it thinks the results will reach in the coming quarters, something that Apple stopped when the Corona crisis broke out.
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