Apple says hardware shipments may be affected due to COVID-19
Apple’s revenue grew nine percent in the first quarter of 2022. This is reported by the CNBC channel.
The report states that the company’s revenue hit a record high of $97.3 billion. Net profit was $25 billion. iPhone revenue was $50.57 billion, Mac revenue was $10.44 billion, iPad revenue was $7.65 billion, and services revenue was $19.82 billion.
Journalists noticed that after the publication of the report, Apple shares fell by four percent. This is due to the fact that top managers of the company warned investors about limiting the supply of devices in the next quarter. The company noted that Apple may be affected by new restrictions related to COVID-19.
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Apple CFO Luca Maestri said supply chain disruptions could cut $4 billion to $8 billion in sales. CEO Tim Cook said that demand in China is also declining due to restrictions related to the novel coronavirus outbreak.
Apple said the board of directors has authorized a $90 billion share buyback, which will keep growth going. The reporters stressed that the American company did not provide a forecast for the next quarter – Apple does not provide revenue forecasts after February 2020, due to the uncertainty in the market associated with the pandemic.
At the end of April, DigiTimes sources said that Apple is going to significantly increase the production of premium iPhone 13 series smartphones. Between April and June, the American company’s suppliers will have to produce 10 million more units of top flagships.
Source: Lenta
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
