For years, Apple’s seemed to defy the law of large numbers.
On Tuesday, we got an answer.
Apple’s results mark the latest example of how technology companies have thrived during thecoronavirus pandemic.
At Apple, that translated to the highest Mac sales everduring the winter months.
Despite the uncertainty, Apple’s shares have risen more than 13% so far this year.
They continued to fall 0.4%, to $146.24, in after-hours trading.
Other parts of Apple’s business are running smoothly as well.
The Mac, meanwhile, notched $8.23 billion in sales, up 16% from last year.
Wearables, home and accessories, meanwhile, jumped 36% to nearly $8.8 billion.
The company’s profitable services business also rose, nearly 33% to $17.5 billion in revenue.
Here’s everything we learned from Apple’s conference call with analysts following its earnings release.
In April, regulators in the UK spoke up against the acquisitionon national security grounds.
Early innings of 5G
That law of large numbers thing I mentioned earlier?
Yeah, Cook says maybe forget it.
Despite the iPhone’s success, he believes “we’re in the very early innings of 5G.”
“We’re at the front end of this.”
To counteract that perception, Apple’s highlighted how many new people are coming to its products.
Apple didn’t offer similar data about its phones, but Cook said it was strong.
Chip shortage isn’t so bad anymore?
Or it’s worse?
Instead, Apple CFO Luca Maestri said the company’s been able to set records despite those troubles.
He said supply constraints will be “higher” during the September quarter.
“In terms of supply constraints and how long they will last,” he said.
“I don’t want to predict that today.
But he also noted that despite a positive spring and summer, things may be getting tougher again.
“As the last 18 months had demonstrated many times before, progress made is not progress guaranteed.
Analysts and industry watchers will be watching for any signs from Apple about the future.
