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.

Read more:

  • Beatles objects in NFT format go up for sale
  • Money laundering moved almost BRL 47 billion in cryptocurrencies, says survey
  • Picasso's heirs decide to launch a collection of NFTs

“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).

iPhone 13 Pro Max (Image: Mario Kurth/Olhar Digital)
Global sales of the iPhone 13 helped Apple's profits. (Image: Mario Kurth/Olhar Digital)

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%.

Via: Reuters

Have you watched the new videos on YouTube from Olhar Digital? Subscribe to the channel!

The post Apple should continue with high profits appeared first on Olhar Digital.

Comments are closed.