![]() “June quarter revenue records in developed and emerging markets with double digit growth in Brazil, Indonesia and Vietnam, and a near doubling of revenue in India,” Cook said.Īt the same time, Mac sales are down significantly, and so are iPad sales (2% lesser than in 2021). Some markets have helped more than the others to absorb the complicated economic situation and consumption trends. Yet, expenses have gone up - $12.8 billion for the quarter compared with $11.1 billion in the same period last year. Analyze closely, and while overall product sales have a slight upward curve, that’s because of an incremental increase in iPhone sales and services (these include Apple Music, iCloud, Apple TV+ and App Store). Overall sales and revenue are up (with caveats), yet operating expenses have increased. The quarterly numbers were a mixed bag for Apple. Obviously we’re being deliberate in our decisions of where to invest,” he said. We’ve always found out that it made us stronger on the other side. “We believe in investing through downturns – we’ve always done that. The need to be “deliberate” with spendings, something Cook alluded to while speaking with Bloomberg after the earnings call, will dictate Apple’s investments and expenses over the next few quarters, at least. This week has given us a better sense of why the way they do business needs to change. ![]() A gentle course correction may be the need of the hour, something Apple’s chief executive officer Tim Cook and Google CEO Sundar Pichai have hinted separately. The latest quarterly numbers don’t make for pleasant reading for any of the tech giants, though it may still not be time to hit the panic button. With the fears of a global economic recession very much in play interspersed with supply chain issues and rising costs, any sense of immunity there may have been within the tech community would have quicky evaporated.
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