The stock jumped as much as 6.3% in extended trading. "This year, we project supply to be available a few weeks later", the exec added.
Apple released its earnings results for the June quarter on Thursday and revealed during its earnings call remarks that it will not offer guidance for this quarter. At $59.69 billion, total revenue was up 11%, which also came in above the estimates.
Apple has pandemic work-from-home orders and stimulus checks to thank for setting new all-time sales records across a number of its product categories. Chief Executive Officer Tim Cook said sales actually grew 6% on a constant-currency basis, propelled by demand for Macs and iPads from millions now accustomed to working from home. With the updated 13-inch MacBook Pro released in the spring, the entire MacBook line has now made the switch to more reliable keyboards and left the controversial "butterfly mechanism" design behind. New cameras, LiDAR scanners, and overall form factors are also in tow for the iPhone lineup this year.
"In addition, as you know, last year, we started selling new iPhones in late September".
Hall: "This is a quarter to give Apple credit where credit is due for excellent execution and performance in the midst of unprecedented difficulty".
The rest of the earnings call was pretty positive, thanks in part to said iPhone SE: sales of iPhones are up two per cent on a year ago, and iPad and Mac sales have rocketed despite the issues coronavirus causes.
The tech firm recorded net income of $11.25 billion or $2.58 per share during the three-month period, compared to $10.04 billion or $2.18 per share a year ago.
Worldwide sales accounted for 62 per cent of the quarter's revenue in the quater, while Apple's net sales in the Great China region increased to $9.329 billion from $9.157 billion a year ago, according to Apple's financial statement. In the meantime, nonetheless, Maestri fasted to note that Apple expected strong sales from every one of its various other, non-iPhone items. The virus has also paused production of Apple TV+ shows shot in Los Angeles, the CEO added. Still, he cited record revenue for the App Store, Apple Music, video products and cloud services. Its earnings for each share climbed 18%, to $2.58.
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