Apple announces record third-quarter 2022 revenue despite growing inflation

Up_And_Away

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Aug 27, 2021
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iPhone: $40.6 billion, up from $39.5 billion year over year
iPad: $7.2 billion, down from $7.3 billion year over year
Mac: $7.3 billion, down from $8.2 billion year over year
Wearables, Home and Accessories: $8.0 billion, down from $8.7 billion year over year
Services: $19.6 billion, up from $17.4 billion year over year

Impressive performance again.
Tim/Luca stated both Mac and wearables/Home were hurt by supply constraints. These two I suspect are Apple’s disappointments especially Mac. The Apple Silicon transition had been going impressively well. Even with the PC industry slowing, Mac’s run had been a series of upward steps. They said supply constraints would ease for the current quarter. It’ll be interesting to see if Mac sees another year over year step forward or backwards.
Apple’s debt is now 120+ billion, making their net cash down to around 50 billion. I suspect Apple’s prolific stock buyback will be scaled back in the next year.
Net profit was down year over year. The dollar’s exchange rate was part of the lower gross profit percent. They stated product mix was also part of it.
 

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