Apple Inc. was expected to be the highlight among the Big Tech giants this quarter, with a big jump in net income, and many aspects of its results were more...
Apple Inc.’s holiday sales and profit totals were staggering once again, and CEO Tim Cook gave just enough of a forecast to satisfy Wall Street on Thursday — but not enough to feel totally comfortable.
Apple’s holiday season deserved that move. Profit nearly hit $35 billion in three months, and was more than the total net income of Amazon.com Inc. AMZN, +0.55% in 2019 and 2020 combined. Quarterly revenue of $124 billion was more than Apple made in any fiscal year for its first three decades as a public company, only breaking that level in 2012.IPhone sales set another all-time record, with revenue growing 9% to $71.
“We’re not guiding by product and constraint by product level,” Cook said. “But overall, we do see an improvement in the March quarter in terms of the constraints going down versus what they were in the December quarter.” “We expect to achieve solid year-over-year revenue growth and set a March-quarter revenue record despite significant supply constraints,” Maestri told analysts on the company’s conference call.
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