Apple should continue with high profits
Apple should continue with high profits, as the quarterly report released this Thursday (27) should point out. Big tech's performance is mainly due to the fact that it handled supply chain issues related to the coronavirus pandemic better than its competitors at the end of 2021.
The company surpassed Wall Street's revenue growth targets of 6%, according to analyst estimates. Apple was primarily driven by strong global sales of the iPhone 13, as well as sales in the Chinese market and growth in Mac computer shipments.
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“We expect Apple to achieve its biggest market share in China since Apple entered the market in 2008,” Canalys analyst Nicole Peng said in an interview with Reuters news agency. Investment firm Wedbush Securities is forecasting record iPhone sales.
Apple is expected to report about $118.7 billion in revenue, according to Wall Street analysts. The value represents a growth of 6.48% year on year. Quarterly earnings per share are expected to be $1.89, according to Eikon data on Tuesday (25).
Before this big improvement, however, the Apple company recorded a rare loss in the fiscal quarter ended in September of last year. At the time, CEO Tim Cook credited the problem to supply restrictions related to the Covid-19 pandemic. Product manufacturing disruptions also cost the company an estimated $6 billion.
Apple was the first technology company to reach a market value of $3 trillion. In this month of January, however, the shares have been losing value, along with the market in general, falling 10%.
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