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.

Tim Cook M2 MacBook Air
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.

Top Rated Comments

CarAnalogy Avatar
2 weeks ago

The stock holders thank you for buying their high margin products. Tim yacht captain also thanks you.
I'll just choose this one of many similar comments to point out that just about anyone can be an Apple stockholder. It's not like you're buying Berkshire Hathaway for $10,000 a share. If you have any retirement savings at all just buy a couple on the dips and it'll probably be the best investment you can make as a casual investor.
Score: 10 Votes (Like | Disagree)
BellSystem Avatar
2 weeks ago
The stock holders thank you for buying their high margin products. Tim yacht captain also thanks you.
Score: 10 Votes (Like | Disagree)
CarAnalogy Avatar
2 weeks ago

Is it me or is Tim Cook looking more muscular?
He finally gave in and subscribed to Fitness+
Score: 8 Votes (Like | Disagree)
alpi123 Avatar
2 weeks ago

Wait, when did I miss the black MacBook announcement?
It's the new M2 Macbook Air in the Midnight color. Not really black, it's technically blue but depending on the lighting can appear matte black
Score: 7 Votes (Like | Disagree)
BuddyTronic Avatar
2 weeks ago

Not too surprising:

#1) Of course he's going to say that. I mean he's the CEO on a call with investors.

#2) He's probably correct since the September period will include the M2 MacBook Air and possibly the iPhone, Apple Watch and new iPad initial sales wave (depending on when the announcement and launch take place).

That being said, Apple could be in a tough position come Q4 2022 when the recession is expected to really hit (even if they aren't calling it that right now). It will be interesting to see how Apple keeps sales up during this economic downturn.
Remind me if we get any recession hitting us in 2022. I’m betting it’s nothing much. Inflation hurts but even that is just fuel and some foods type stuff largely.

No layoffs. Many jobs available. This is something different than “recession” I’d say
Score: 5 Votes (Like | Disagree)
goborgh Avatar
2 weeks ago
..."they expect growth to accelerate in the September quarter...".
Well duh, that's when the new iPhone comes out every year.
Score: 5 Votes (Like | Disagree)

Related Stories

Apple Logo Cash Feature Blue

What to Expect From Apple's Third Quarter Earnings Results on Thursday

Tuesday July 26, 2022 11:11 am PDT by
Apple will be reporting its earnings results for the third quarter of the 2022 fiscal year on Thursday, July 28 at 1:30 p.m. Pacific Time. Apple will then host a conference call shortly afterwards to discuss the results. Keep reading for some key things to know about Apple's third quarter, including analyst expectations for revenue and more. New Products Apple's third quarter ran from...
apple lineup except the ipad is sad

Apple Reports All-Time or March Quarter Revenue Records Across All Categories Except iPad

Thursday April 28, 2022 2:03 pm PDT by
Apple today announced its earnings results for the second quarter of its 2022 fiscal year, including revenue of $97.3 billion, a new March quarter record. Apple saw growth across its iPhone, Mac, Wearables, and Services product categories, but iPad revenue experienced around a 2% decline compared to the year-ago quarter. "We are very pleased with our record business results for the March...
ipad mac side by side

Apple Reports All-Time Quarterly Revenue Record for Macs With 'Strong Demand' for M1 MacBook Air

Thursday October 28, 2021 1:47 pm PDT by
Apple today reported Mac revenue of $9.17 billion in the fourth quarter of its 2021 fiscal year, which is an all-time quarterly revenue record for Macs. Apple CEO Tim Cook said there was "strong demand" for the M1 MacBook Air in particular. No new Macs were released during the quarter, with the new 14-inch and 16-inch MacBook Pro models not being released until after the quarter ended, but...
apple lineup except the ipad is sad

Apple Reports All-Time Quarterly Revenue Records for iPhone, Mac, Wearables, and Services

Thursday January 27, 2022 1:50 pm PST by
Apple today reported its earnings results for the fourth quarter of 2021, which corresponds with the first quarter of the 2022 fiscal year. Overall, Apple reported revenue of $123.9 billion, which is an all-time quarterly record for the company. On a category-by-category basis, Apple also set all-time quarterly revenue records for the iPhone, Mac, Wearables, and Services:iPhone: $71.6...
ipad mini 3

Supplies of Apple Products to Improve in March Quarter

Thursday January 27, 2022 2:10 pm PST by
Apple faced significant supply constraints across all devices during the first fiscal quarter of 2022, but product supplies are expected to improve in the March quarter, Apple CEO Tim Cook told The Wall Street Journal ahead of today's earnings call. "We saw supply constraints across most of our products," Mr. Cook said in an interview Thursday as the company released its results. "We're...
ternus mac studio

Apple Expected to Announce Record-Breaking March Quarter

Thursday April 28, 2022 6:28 am PDT by
Apple is set to report financial results for the second quarter of the 2022 fiscal year later today, and Wall Street is expecting record-breaking figures. On average, analysts forecast that Apple will set a new March quarter record for the company with revenue of $93.9 billion, according to Yahoo Finance. This revenue growth is expected to come from the iPhone, Mac, Services, and Wearables,...
Apple iPhone 13 colors lineup 2022

iPhone Demand Remains High Despite Technology Market Slowdown, Say Analysts

Friday May 20, 2022 5:33 am PDT by
iPhone demand this quarter has thus far remained "surprisingly resilient" despite the widespread supply chain issues and other factors affecting the tech industry, according to Wedbush analysts Daniel Ives and John Katsingris. Summing up their research findings in a new investor note, the market analysts said Apple's flagship devices had been holding up well despite "compression across the...
Apple iPhone 13 Pro color lineup 2022

Apple Was the Only Top Smartphone Vendor to Increase Shipments Year-Over-Year Last Quarter

Friday April 29, 2022 3:46 am PDT by
Apple was the only top smartphone maker that saw a year-over-year increase in shipments in the last quarter, while Samsung, Oppo, Xiaomi, and others saw steep declines in their respective mobile smartphones. Apple yesterday announced record earnings for the March quarter, with more than $97 billion in revenue, beating expectations. Following the results, Strategy Analytics, Canalys, and IDC...

Popular Stories

ios 16 beta 5 battery percent

iOS 16 Beta 5: Battery Percentage Now Displayed in iPhone Status Bar

Monday August 8, 2022 10:43 am PDT by
With the fifth beta of iOS 16, Apple has updated the battery icon on iPhones with Face ID to display the specific battery percentage rather than just a visual representation of battery level. The new battery indicator is available on iPhone 12 and iPhone 13 models, with the exception of the 5.4-inch iPhone 12/13 mini. It is also available on the iPhone 11 Pro and Pro Max, XS and XS Max, and...
iPhone 14 Lineup Feature Purple

Color Options for All iPhone 14 Models: Everything We Know

Monday August 8, 2022 3:59 am PDT by
The iPhone 14 and iPhone 14 Pro models are rumored to be available in a refreshed range of color options, including an all-new purple color. Most expectations about the iPhone 14 lineup's color options come from an unverified post on Chinese social media site Weibo earlier this year. Overall, the iPhone 14 and iPhone 14 Pro's selection of color options could look fairly similar to those of the ...
iOS 16 battery percentage

Apple Limiting iOS 16 Beta 5 Battery Percentage Display to Select iPhones: Here Are the Supported Devices

Tuesday August 9, 2022 2:51 am PDT by
Apple this week brought back one of the most highly requested features from iOS users since the launch of the iPhone X in 2017: the ability to see your battery percentage directly in the status bar. Ever since the launch of the iPhone X with the notch, Apple has not allowed users to show their battery percentage directly in the status bar, forcing them to swipe down into Control Center to...
ios 16 battery indicator 2

Everything New in iOS 16 Beta 5: Battery Percentage in Status Bar, Find My Changes and More

Monday August 8, 2022 12:53 pm PDT by
Apple today seeded the fifth beta of iOS 16 to developers for testing purposes, introducing some small but notable changes to the iOS operating system. Subscribe to the MacRumors YouTube channel for more videos. We've rounded up everything new in the fifth beta below. Battery Percentage in Status Bar The battery icon in the status bar now displays the exact battery percent, a feature that ...
iphone 14 pro max camera bump compared lipilipsi 16 9

Bigger iPhone 14 Pro Max Camera Bump Shown Alongside iPhone 13 Pro Max

Monday August 8, 2022 4:33 am PDT by
The camera bump on the upcoming iPhone 14 Pro Max is expected to be the largest rear lens housing Apple has ever installed on its flagship smartphones, and a new photo offers a rare glimpse at just how prominent it is compared to Apple's predecessor device. iPhone 14 Pro Max dummy (left) vs iPhone 13 Pro Max All iPhone 14 models are expected to see upgrades to the Ultra Wide camera on the...
cook sept 2020 event

Gurman: Apple Preparing Pre-Recorded iPhone 14 and Apple Watch Series 8 Event

Sunday August 7, 2022 6:13 am PDT by
Apple has "started to record" its virtual September event, where it's expected to announce the upcoming iPhone 14 lineup, the Apple Watch Series 8, and a new "rugged" Apple Watch model, according to Bloomberg's Mark Gurman. Writing in his latest Power On newsletter, Gurman says the event, which is expected to take place in the early part of September, is already under production, implying...
airpods pro black background

Beyond iPhone 14: Five Apple Products Expected to Launch Later This Year

Monday August 8, 2022 9:43 am PDT by
While the iPhone 14 and Apple Watch Series 8 are expected to be announced in September as usual, there are several more Apple products rumored to launch later this year, including new iPad and Mac models and more. Beyond the iPhone and Apple Watch, we've put together a list of five Apple products that are most likely to be unveiled by the end of 2022. Second-Generation AirPods Pro Apple...