Gross beat mac pro#
While lead time analysis suggests that Apple's new iPhone models largely found supply-demand balance during the period, supply of the company's new M1 Max and M1 Pro remained constrained in Q1 2022.Īlthough antitrust legislation and ongoing legal battles loomed over the App Store during the December quarter, the app marketplace still likely saw robust growth.
Supply issues were felt differently across product lineups during the quarter, however. Heading into the December quarter, Apple advised that it expected those supply headwinds could have a larger impact. Apple also launched its new 14-inch MacBook Pro and 16-inch MacBook Pro models with M1 Max and M1 Pro.īack in the September quarter, Apple noted that it had missed out on $6 billion of revenue because of semiconductor constraints and supply chain problems.
Gross beat mac full#
The December quarter marked the first full quarter of availability for which Apple's iPhone 13 and iPhone 13 Pro. Wall Street is forecasting that Apple will report $118.3 billion in revenue, gross margins of 40.5%, and earnings-per-share of $1.89. However, it did say that it expects to set new revenue records despite increasing supply headwinds during the period. That means the company's Q1 2022 represented the holiday shopping quarter - Apple's busiest.Īs has been typical during the Covid-19 pandemic, Apple did not provide formal revenue guidance for the Q1 2022 quarter. During the call, Apple CEO Tim Cook and CFO Luca Maestri will take questions from analysts and discuss the company's holiday quarter performance.Īpple's first fiscal quarter corresponds with the fourth calendar quarter of a year. 27 and hold an hourlong investor call at 2 p.m. Huberty believes that March revenue will "land" at roughly $93.9 billion, noting a 3 point foreign exchange headwind sequentially, which would be "above seasonal strength" in the period, while adding that Apple is likely to launch the iPhone SE with 5G in the June quarter "to help support a strong F3Q quarter as well."Įarlier this month, Apple's ( AAPL) Cook spoke to Texas Senator Ted Cruz over some antitrust bills that are being debated in the Senate, including one that would prohibit platforms from favoring their own products over others.The company will announce its Q1 2022 results on Jan. He also said the company expects to report "solid year-over-year revenue growth." However, Maestri did say that Apple ( AAPL) expects supply constraints to lessen during its current quarter, which ends in March. On the earnings call, neither Chief Executive Tim Cook nor Chief Financial Officer Luca Maestri gave a figure for what kind of an impact supply chain matters had on the recently completed quarter.
Gross beat mac mac#
Also aiding the quarterly results was strength in the Mac and Wearables divisions, with Mac revenue coming in at $10.85 billion, compared to $8.68 billion in the year ago period.Īpple's Wearables unit, which includes the Apple Watch and AirPods, generated $14.7 billion in revenue during the period, up from $12.97 billion in the first quarter of 2021. Services revenue rose to $19.5 billion in the quarter, up from $15.7 billion in the year-ago period. A consensus of Wall Street analysts expected the company to earn $1.89 a share on $118.4 billion in revenue during the quarter. The Cupertino, California-based Apple said it earned $2.10 a share on $123.95 billion in revenue, led by strength in the iPhone, which generated $71.6 billion in sales during the quarter. "When coupled with a stronger than anticipated March quarter guide despite difficult Y/Y comps and continued (but easing) supply constraints, tonight's results illustrate the strength and stability of Apple's product and services ecosystem, a clear differentiator in a more difficult market environment."Īpple shares are higher by nearly 4% to $165.36 in pre-market trading on Friday. "Apple's December quarter was one of the cleanest quarters in recent memory as revenue, gross margin, and EPS all beat our above consensus forecast, with Mac and Services growth particularly strong," Huberty wrote in a note to clients. Dronandy/iStock Editorial via Getty ImagesĪpple (NASDAQ: AAPL) shares are significantly higher in early trading on Friday, after the tech giant posted what Morgan Stanley described as a "clean December beat," resulting in the investment firm raising its price target.Īnalyst Katy Huberty, who has an overweight rating on shares, raised her price target to $210, up from $200, noting that Apple is the firm's top pick this year as not only was the December quarter strong, but guidance for the next quarter highlighted the company's strength and "stickiness."
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