Apple earnings

Apple today announced financial results for its fiscal 2022 third quarter ended June 25, 2022.

© 2022 Apple Inc. All rights reserved. “Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. The Company posted a June quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of $1.20.

Apple reported better than expected sales and profits in its latest quarter. The beat was driven by strong iPhone sales.

Apple AAPL +0.4% Inc. is scheduled to report earnings after Thursday's close. The stock hit a record high of $182.94/share in early 2022 and is currently ...

Meanwhile, the bears want to see the 200 DMA line become resistance and they want the stock to take out June’s low. The company has managed to grow even in a difficult environment which is a great sign for shareholders. The company is expected to report a gain of $1.14/share on $82.42 billion in revenue.

Revenue rose 2% to $83 billion in the period, which ended June 25, compared with an average analyst prediction of $82.8 billion. Earnings amounted to $1.20 a ...

Apple generated $7.38 billion from the Mac, badly missing predictions of about $8.45 billion. Still, it generated $7.22 billion last quarter, above the $6.93 billion estimate. The ongoing Covid restrictions in China have sparked concerns about the effect on consumer spending. Apple also had little in the way of new products to lure customers in recent months. Last quarter’s sales from digital services like iCloud, AppleCare, Apple TV+ and Apple Music climbed 12% to $19.6 billion during the period. But the company said demand was particularly weak for low-end and mid-tier phones running Android, rather than the iPhone. Still, the iPhone numbers suggest that Apple is weathering a slowdown in smartphone spending. The company didn’t provide guidance for the fourth quarter, continuing an approach it adopted at the beginning of the pandemic. Wall Street had called for about $8.8 billion. China’s tough stance against the virus has led to some production restrictions for supplier Foxconn as recently as this week. Before releasing its results Thursday, Apple’s stock had fallen about 11% this year, slightly outperforming the S&P 500 Index. Earnings amounted to $1.20 a share, topping the $1.16 projection.

Apple, Inc. (NASDAQ:NASDAQ:AAPL) Q3 2022 Earnings Conference Call July 28, 2022, 17:00 ET Company Participants Tejas Gala - IR Contact Timothy Cook - CEO ...

What matters to us, I think it goes back to Tim was saying earlier, is we want to make sure that people love our products and services, and we want all of them to be equally successful in the marketplace. And we did see a rebound in those same cities toward the end of the quarter in the June time frame. And in particular, in the run-up to June 18, which as you know, is a major shopping holiday in China. We think that the net of that was still a negative, but some of it did rebound by June time frame. That's a big number right there that is going to affect us, that we are having some impact from the situation in Russia and that is obviously different from normal seasonality as well. To give you a little more color on what we saw in the June quarter, we came in slightly below, from a constraint point of view, the $4 billion number that we had put, at the 4 to 8 are the low end of that range. And that's utilizing iPhone and iPad. And of course, we are in the business of innovation so we're always exploring new and emerging technologies. I just wanted to circle back on sort of the macro and sort of the demand signals that you're seeing versus sort of the supply chains that you're facing. As we move from the June to the September quarter, maybe can you dig a level deeper and kind of help us understand some of the moving pieces in the Services business? But I think the way to think about it, certainly the way we think about it is that there's a number of levers in our Services business to take into account. And then as you mentioned, the breadth and the quality of the services that we offer tends to grow over time. And if you look at the June quarter, we do believe that we saw macroeconomic headwinds that impacted our business and our results. And finally, we continue to improve the breadth and the quality of our current Services offerings, from a constant flow of new content on Apple TV+ and Apple Arcade to great new features we recently announced for iCloud and Apple Music, which we believe our customers will love.

Apple Inc.'s iPhone business looks to be a portrait of resilience, according to numerous analysts, as the company indicated late Thursday that macroeconomic ...

Suva is upbeat about a “mix shift” that “continues to skew away from lower priced Android phones towards more mid end and premium pricing products.” He also noted that Apple’s roughly $90 billion buyback “lends support to shares.” “While investors were concerned about the general slowdown in consumer spending, Apple posted an all-time high over 1.8 billion installed base, which sets up well for future services sales, upgrades and replacements,” he wrote in a note to clients. “Apple’s outperformance relative to peers continues to impress,” he wrote in a note to clients titled: “iPhone Resilience Defying Macro Challenges, Growth in India Should Not Be Overlooked.” Apple AAPL, +3.09%shares were up more than 2% in premarket trading Friday. Cowen & Co. analyst Krish Sankar also saw Apple’s commentary as indicative that “premium demand” is “resilient,” though he said he would be taking a measured approach to his own forecasting. Rakers was upbeat about Apple’s continued ability to steer through the macro storm, writing that while the company faces “considerable challenges” from foreign-exchange pressures and economic trends, its results showed “resiliency” and the company should be able to do better than the PC and smartphone markets more generally, “while also supporting shares through significant capital return.”

The job of a market strategist is collecting as many data points as possible in an effort to understand what the market is communicating.

With some of the biggest tech names having reported earnings and offering forward looking statements that were better than feared, there’s a case to be made for optimism. Well, the S&P 500 is up nearly 3% through Thursday with the Nasdaq up nearly the same and all indications are for a strong opening. For the second quarter in a row, GDP contracted, this time at a rate of 0.9%. While two consecutive quarters of declining GDP are commonly considered a recession, technically speaking, it is up to the oracles of the NBER to make that declaration. This legislation calls for nearly $53B in spending on semiconductor manufacturing facilities aimed at improving competitiveness with China. Passage of the bill allows for construction on new domestic facilities by companies such as Intel INTC A fair question to ask at this point might be what to make of this week. The job of a market strategist is collecting as many data points as possible in an effort to understand what the market is communicating.