Tim Cook Expects Apple's September Quarter Revenue Growth to Accelerate Despite 'Pockets' of Softness
Apple today reported its earnings results for the third quarter of the 2022 fiscal year, including revenue of $83 billion and net quarterly profit of $19.4 billion. As usual since the start of the COVID-19 pandemic, Apple did not provide formal revenue guidance for the ongoing quarter, but Apple CEO Tim Cook did help to set expectations.
Cook told CNBC's Steve Kovach that he expects year-over-year revenue growth to "accelerate in the September quarter" compared to the June quarter "despite seeing some pockets of softness" in some areas, including digital advertising across its platforms.
Speaking on Apple's earnings call, Cook said Apple is facing a "cocktail of headwinds" affecting its revenue, including a strong U.S. dollar that is expected to cause a foreign exchange headwind of around $5 billion in the September quarter, along with supply constraints and a loss of business in Russia amid its war on Ukraine. Cook said Apple's Wearables, Home, and Accessories category is also facing macroeconomic headwinds.
Apple reported revenue of $83.4 billion in the September 2021 quarter. On average, analysts expect Apple to report $90 billion revenue in the September 2022 quarter, according to data compiled by Yahoo Finance.
Apple's fourth quarter began June 26 and runs through September 24. The quarter has already included the start of orders for the new MacBook Air with the M2 chip, and it will likely include at least a few days of iPhone 14 pre-orders as well.
Popular Stories
After announcing new Mac and HomePod models last week, Apple adjusted its trade-in values for select devices in the United States.
iPhone trade-in values decreased by up to $80, and most Android smartphones also went down. Mac trade-in values remained unchanged or increased by up to $40 depending on the model, while some Apple Watch models increased in value and others decreased. Trade-in...
Apple's next-generation iPhone 15 Pro and iPhone 15 Pro Max are expected to be announced in September as usual. Already, rumors suggest the devices will have at least seven exclusive features not available on the standard iPhone 15 and iPhone 15 Plus.
An overview of the seven features rumored to be exclusive to iPhone 15 Pro models:A17 chip: iPhone 15 Pro models will be equipped with an A17...
While the new Mac mini with the M2 chip has a lower $599 starting price, the base model with 256GB of storage has slower SSD read and write speeds compared to the previous-generation model with the M1 chip and 256GB of storage.
A teardown of the new Mac mini shared by YouTube channel Brandon Geekabit reveals that the 256GB model is equipped with only a single 256GB storage chip, while the...
Apple today released tvOS 16.3, the third major point update to the tvOS 16 operating system that originally came out in September. Available for the Apple TV 4K and Apple TV HD, tvOS 16.3 comes six weeks after tvOS 16.2, an update that added Apple Music Sing.
The tvOS 16.3 update can be downloaded over the air through the Settings app on the Apple TV by going to System > Software...
Apple today released watchOS 9.3, the third major update to the watchOS 9 operating system that first launched in September. watchOS 9.3 comes over a month after watchOS 9.2, an update that added new Workout functionality and Crash Detection optimizations.
watchOS 9.3 can be downloaded for free through the Apple Watch app on the iPhone by opening it up and going to General > Software Update. ...
In a recent press release, Apple confirmed that iOS 16.3 will be released to the public next week. The software update will be available for the iPhone 8 and newer and includes a handful of new features, changes, and bug fixes.
Below, we've recapped bigger features in iOS 16.3, including support for physical security keys as a two-factor authentication option for Apple ID accounts, worldwide ...
The new M2-series MacBook Pro and Mac mini models launched today, marking the debut of the first M2 Pro and M2 Max chips. We have the M2 Pro Mac mini on hand, and thought we'd take a look at the machine and do a series of benchmarks to see how it fits into Apple's lineup.
Subscribe to the MacRumors YouTube channel for more videos. Base model Mac mini machines come with either an M2 or M2 Pro...
Apple today released macOS Ventura 13.2, the second major update to the macOS Ventura operating system initially released in October. macOS Ventura 13.2 comes more than a month after macOS Ventura 13.1, an update that added the Freeform app and other changes.
The macOS Ventura 13.2 update can be downloaded for free on all eligible Macs using the Software Update section of System...
Top Rated Comments
No layoffs. Many jobs available. This is something different than “recession” I’d say
Well duh, that's when the new iPhone comes out every year.