san francisco While the technology groups Amazon, Meta and Google’s mother Alphabet crashed on the stock exchange, Apple was able to assert itself. “We achieved record sales,” said Apple CEO Tim Cook on Thursday when presenting the data for the past quarter.
Sales rose eight percent year-on-year to $90.1 billion. Profit improved from $20.55 to $20.72 billion. Sales and profits were better than expected by analysts.
However, Cook warned: “We are still living in unprecedented times.” The Apple boss referred to economic challenges, the war in Ukraine, the corona pandemic and the climate crisis. “The world continues to be unpredictable.”
Apple will therefore not make a forecast for the coming quarter due to the unpredictable environment, said Cook. The lack of computer chips was at least no longer a problem.
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However, Apple CFO Luca Maestri warned that revenue in the coming quarter is likely to grow more slowly than in the past quarter.
In after-hours trading, Apple’s shares remained largely stable, initially falling 1 percent before turning positive again, while Amazon’s shares plummeted around 20 percent.
iPhone contributes around half of sales
The iPhone continues to be the most important product for Apple and accounts for around half of sales. iPhone sales rose from $38.9 billion to $42.6 billion. However, analysts had expected around one billion more in sales. “We are very pleased with iPhone sales and are leaders in many markets,” Cook said.
But the sale of computers went much better than expected by analysts. The company posted Mac sales of $11.5 billion, up from $9.2 billion in the same period last year. “It was the best quarter in our history for the Mac,” Cook said. In the previous year, however, Mac sales were weaker due to production restrictions in China due to the corona pandemic.
CFO Maestri warned that sales of Mac computers would not continue to grow as quickly in the future. He predicted that Mac sales “will decline significantly year over year” due to the strong dollar and a difficult comparison to last year when the company introduced new MacBook Pros.
However, the company fell short of expectations when it came to selling iPad tablets. Sales fell to $7.2 billion from $8.3 billion in the same period last year. Analysts had expected around $7.8 billion.
The company had sales of $9.7 billion in wearables, home and accessories, compared to $8.8 billion in the same period last year. Analysts had expected sales of $9.2 billion.
Services revenue increased to $19.2 billion from $18.3 billion. Here, however, analysts had expected $20 billion. One reason for the weaker sales in the service area was the high dollar exchange rate, said Apple CFO Luca Maestri.
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