Apple’s iPhone sales showed resilience between April and June, despite thatThe pandemic continued to spread, improving lives and disrupting businesses around the world. Apple, amid strong fiscal news for the third quarter, signaled its success has its limits and that means the new iPhone will be .
The technical giant warned investors twice during Thursday’s conference call, which Apple viewers will say among other things, it will be postponed from its typical September.
“As you know, last year we started selling iPhones in late September. This year, we plan to make deliveries available a few weeks later, “said Luca Maestri, Apple’s CFO.
When the analyst later asked him for clarification, Maestri said that a new iPhone is coming, we have to wait. “A year ago, we launched new links for the iPhone in late September,” he said. “This year, the delivery of the new product will be a few weeks later.”
There’s a reason on Wall Street, The smartphone is Apple’s most important product and accounts for more than half of its revenue over at least the last six years. The device is also largely responsible for transforming Apple into a juggernaut, which today is worth more than $ 1.65 trillion on Wall Street and producing more than 1.5 billion devices that are actively used worldwide.
Apple’s latest financial release is just the latest sign of how the coronavirus pandemic has affected the global economy. According to a Counterpoint Research survey in the USA, total smartphone sales fell by a quarter over the same period. Apple receives most of its revenue from the sales of its iPhones, which saw a slight increase over the previous year.
In general, more than 40 million Americans have applied for unemployment, raising questions about whether consumers will want to buy expensive new devices. US GDP, the measure of the US economy, recorded the largest quarterly decline, declining by 32.9% from April to June.
The US government has tried to combat these problems with increased unemployment benefits, although the program expired last weekend for some 30 million Americans and will affect it more in the coming months. And while the stock market is rebounding at almost the highest levels in history, economists fear it may not last unless Congress follows the next round of unemployment and unemployment benefits it is negotiating.
However, the sharp rise in COVID-19 cases in various parts of the United States, which began in June and continues today as Florida announces its third straight day of death in one day, raises questions about Apple’s prospects in the coming months. Although Apple is welcomed as one of the best companies in the world supply chain, connecting a network of hundreds of suppliers who manufacture their equipment primarily in China, Apple observers fear that COVID-19 could continue to hit it as it prepares for vacation. shopping season.
“We’ve taken an approach that you know we’re trying to understand how the virus is evolving over time,” said Apple Maestri.
Investors did not seem to be affected by this delay when Apple shares rose 5% in hourly trading, after closing by more than 1% to $ 384.76 per share. Shares of Apple, valued at $ 1.67 trillion, rose more than 28 percent this year.
Numbers are displayed
Despite relative struggles for the iPhone, Apple said its other product categories were doing well.
During the three months of the fiscal third quarter, which ended on June 27, Apple said it increased iPad sales by $ 6.6 billion, up 31% from the same period last year. Mac sales reached nearly $ 7.1 billion, up 21% from last year. Apple CEO Tim Cook noted that these categories have been beneficial to the environment, as people in their homes are likely looking for equipment for work or play.
Although companies that carry smaller and service companies that are smaller than iPhone businesses are a key part of Apple’s future. The wearable clothing segment, which includes Apple Watch and AirPods, had sales of $ 6.5 billion. Its services, including subscription services such as Apple Music and Apple TV Plus, generated revenues of $ 13.2 billion.
Even the iPhone, whose slowdown in production in China was prompted by Apple, achieved a turnover of $ 26.4 billion, which is more than 1% more than in the previous year. This time included orders for locking around the world and the temporary closure of Apple’s retail stores. The minor blow is also better than last year, when Apple saw a nearly 12% drop in iPhone sales during the spring months before the iPhone 11 was unveiled.
Apple said it recorded a profit of $ 11.3 billion, which is 12% more than last year. That’s $ 2.58 per share in earnings, or $ 59.7 billion in total revenue, up 11% from a year earlier. It was also much higher than what analysts expected from the company, which reported a report that averaged $ 2.04 per share on earnings with $ 52.3 billion in revenue, according to surveys released by Yahoo Finance.
“In uncertain times, this performance is a testament to the important role our products play in the lives of our customers and Apple’s relentless innovation,” said Tim Cook, Apple’s chief executive officer. He noted that Apple has seen growth in all of its international markets, including China, where sales have risen 1% despite being the epicenter of the initial emergence of coronaviruses.
While Cook indicated that his company had a bit of a coronavirus handle, he warned that the company was likely to try to meet demand for iPads and Macs during importantAnalysts believe that uncertainty about whether schools will reopen could lead families to continue buying technology, despite economic unrest, which is putting even more pressure on Apple to supply equipment.
“We have a fantastic range of products,” said Maestri. “And we know that these products are incredibly relevant, especially given the current circumstances.”