{"id":237841,"date":"2021-04-29T00:22:06","date_gmt":"2021-04-28T21:22:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/apples-sales-and-profits-surge-amid-soaring-demand-for-iphones-macs\/"},"modified":"2021-04-29T00:22:06","modified_gmt":"2021-04-28T21:22:06","slug":"apples-sales-and-profits-surge-amid-soaring-demand-for-iphones-macs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/apples-sales-and-profits-surge-amid-soaring-demand-for-iphones-macs\/","title":{"rendered":"#Apple\u2019s sales and profits surge amid soaring demand for iPhones, Macs"},"content":{"rendered":"

“#App<\/a>le\u2019s sales and profits surge amid soaring demand for iPhones, Macs<\/strong>”<\/p>\n

\n

\u00a0Apple\u00a0on Wednesday posted sales and profits far ahead of Wall Street expectations and announced a $90 billion share buyback as customers continued to upgrade to 5G iPhones and snapped up new Mac models with\u00a0Apple\u2019s house-designed processor chips.<\/p>\n

Sales to China nearly doubled and results topped analyst targets in every category, led by $6.5 billion more in iPhone sales than predicted and Mac sales about a third higher than estimates.\u00a0Apple\u00a0Chief Executive Tim Cook said the company sees an economic recovery coming.<\/p>\n

\u201cI think the US will be very strong. Certainly, all indications that I see would be very positive on the US economy,\u201d Cook told Reuters in an interview.<\/p>\n

The results came amid a global semiconductor shortage that has hobbled U.S. automotive manufacturers but that appears to have left\u00a0Apple, a major chip buyer known for its supply chain expertise, unscathed.<\/p>\n

\u201cThere wasn\u2019t a material issue with our results due to supply,\u201d Cook told Reuters.<\/p>\n

Apple\u00a0thrived through the coronavirus pandemic as home-bound consumers stocked up on electronic devices and signed up for paid apps and services for fitness and music, and sales shot up even higher as\u00a0Apple\u00a0released 5G iPhone models last fall.<\/p>\n

For the fiscal second quarter ended March 27,\u00a0Apple\u00a0said sales and profits were $89.6 billion and $1.40 per share, compared with estimates of $77.4 billion and 99 cents per share, according to Refinitiv data.<\/p>\n

Apple\u00a0shares rose 3% in extended trading after the results.<\/p>\n

\n
\"\"
Apple cites sales of iPhones upgraded for 5G as part of its success for the second quarter.<\/figcaption>
SOPA Images\/LightRocket via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

While\u00a0Apple\u2019s business is booming, its App Store, one of its fastest-growing businesses, has come under increased antitrust scrutiny because of\u00a0Apple\u2019s in-app payment rules and app review policies. In the coming weeks,\u00a0Apple\u00a0will defend a high-profile antitrust lawsuit brought by \u201cFortnite\u201d maker Epic Game<\/a>s, while European Union antitrust regulators are set to eye the company following a complaint by music streaming service Spotify.<\/p>\n

Macs and iPads \u2013 two product categories that Wall Street rarely counted on to supply growth \u2013 both benefited from consumers working from home and remote learning. On top of those trends, Cook said\u00a0Apple\u00a0customers were responding strongly to the company\u2019s M1 chip, its first in-house processor for Mac computers.<\/p>\n

\u201cBoth of those things happening at once really supercharged the Mac sales. The last three quarters on Mac have been the strongest three quarters ever in the history of the Mac,\u201d Cook told Reuters.<\/p>\n

Apple\u00a0raised its dividend 7% to 22 cents per share, a penny ahead of estimates, as well as announcing the $90 billion share repurchase. Google-owner Alphabet announced a $50 billion buyback on Tuesday.<\/p>\n

Apple\u00a0said iPhone sales were $47.9 billion compared with analyst estimates of $41.4 billion, according to data from FactSet. Sales of Macs and iPads were $9.1 billion and $7.8 billion, respectively, compared with FactSet estimates of $6.8 billion and $5.6 billion.<\/p>\n

Apple\u00a0investors are looking for growth from\u00a0Apple\u2019s accessories business, which includes products like AirPods headphones and its new AirTag trackers, and its services business, which includes its App Store and new offerings such as paid podcasts. Sales in the segments were $7.8 billion and $16.9 billion, respectively, versus estimates of $7.4 billion and $15.5 billion.<\/p>\n

Cook said the company has 660 million paying subscribers on its platform, an increase from the 620 million in the fiscal first quarter.\u00a0Apple\u00a0recently added new paid offerings such as its Fitness+ workout service.<\/p>\n

Apple\u2019s sales in the greater China region during the fiscal second quarter, which included the busy Lunar New Year shopping season, were up 87.5% to $17.7 billion, compared with a 57% rise in the previous quarter.<\/p>\n

Shares of\u00a0Apple\u00a0are up some 93% over the past year, compared with a 61% rise for the Nasdaq 100 index of which\u00a0Apple\u00a0is a component. The array of products and services eased investors\u2019 valuation concerns that\u00a0Apple\u00a0relied too heavily on iPhone sales, turning\u00a0Apple\u00a0into a $2 trillion market capitalization company two years after it hit the $1 trillion mark.<\/p>\n

The rise has cooled this year despite\u00a0Apple\u00a0reporting its first ever quarter with more than $100 billion in sales in January, with\u00a0Apple\u00a0shares rising only 3.9% since the start of the year versus a nearly 10% rise for the Nasdaq 100, as investors have questioned whether\u00a0Apple\u00a0shares are too expensive relative to other tech stocks.\n <\/p><\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Apple\u2019s sales and profits surge amid soaring demand for iPhones, Macs” \u00a0Apple\u00a0on Wednesday posted sales and profits far ahead of Wall Street expectations and announced a $90 billion share buyback as customers continued to upgrade to 5G iPhones and snapped up new Mac models with\u00a0Apple\u2019s house-designed processor chips. Sales to China nearly doubled and results…<\/p>\n","protected":false},"author":1,"featured_media":237842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/04\/apple-profits-sales-surge.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[103724,5029,70237],"class_list":["post-237841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-28-21","tag-apple","tag-corporate-earnings"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/237841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=237841"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/237841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/237842"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=237841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=237841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=237841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}