Apple Inc. is overcoming the costly global shortage in computer chips, posting record sales over the holiday quarter, beating profit estimates and forecasting that its shortfall is narrowing. READ:
Apple Inc. is overcoming the costly global shortage in computer chips, posting record sales over the holiday quarter, beating profit estimates and forecasting that its shortfall is narrowing.
“They’ve navigated the supply chain better than everybody, and it’s showing in the results,” said Ryan Reith, who studies the smartphone market for industry tracker IDC. Ms. Peng said Apple was unlikely to repeat that quarterly performance this year, given it was driven by one-off factors. However, she said the company could still have a strong 2022 if Chinese consumers warm up to a new iPhone SE, which is expected to be released this year.
“The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries,” he said.The iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6 billion, a 9% increase from the 2020 holiday season that handily beat Wall Street targets, according to Refinitiv data. Mr.
Apple’s only category segment to miss sales expectations was iPads. Sales fell 14% to $7.25 billion compared with analyst estimates of $8.2 billion, seeming to confirm industry predictions that the tablets would have low priority for any scarce parts.Revenue from Mac computers rose 25%, and Apple said the last six quarters have been its best for Mac sales.
Wall Street has questioned how long it will take Apple to deliver its next big product, such as an augmented reality headset for the metaverse.