Apple
We know that the current shortage of electronic components is causing a lot of inconvenience to millions of users around the world, who, for necessity or for fun, want to assemble a new PC. Unfortunately, in addition to GPUs and CPUs, the situation could also precipitate in the storage sector, given the growing popularity of mining of the new cryptocurrency Chia.Numerous companies, despite the situation, have managed to record record collections in the 'last quarter due to very high demand, selling virtually every single device manufactured. Among these, of course, we also find Apple, which, however, has managed to get along better thanks to its privileged agreements with TSMC, one of the largest semiconductor manufacturers in the world.
In a recent meeting, Tim Cook, Apple's CEO, said he doesn't expect any problems for the second quarter of this year, but that could change in the coming months. In fact, inventories could run out during the third quarter, leading mainly to a possible shortage mainly for the Mac and iPad lines.
At the moment, it is rather difficult to predict the exact impact of the shortage, exacerbated by the growing demand for devices for Smart Working and distance learning. For now, according to colleagues at 9to5Mac, the Cupertino company has managed to produce enough 5nm chips for its devices, but, of course, other components are needed as well.
For example, last month Nikkei reported that iPad production was hampered by a shortage of display-related components. Any problems of this type could lead to lower revenues for Apple due to the lower number of devices sold, although currently the company continues to be confident of meeting expectations, especially after the introduction on the market of the new iMac and iPad Pro.
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Apple climbs 3% after crushing 2nd-quarter earnings on iPhone 12 strength and boosting its dividend and buyback program
© Apple AppleApple surged as much as 3% on Thursday after its second-quarter earnings report smashed analyst expectations.
CONSTELLATION BRANDS, INC.
The company reported a record non-holiday quarter driven by strong iPhone 12 sales, with revenue growing 54% year-over-year. Apple also increased its dividend by 7%, and raised its stock buyback program to $90 billion.
Here are the key numbers from Apple's second-quarter earnings report.
Revenue: $89.6 billion, versus analyst estimates of $77.3 billion
Earnings per share: $1.40, versus analyst estimates of $0.98
iPhone Revenue: $47.9 billion, versus analyst estimates of $40.8 billion
Apple's Services, Wearables, iPad, and Mac units also generated revenues well above analyst estimates, as the company's sticky ecosystem grows with new product launches like AirTags, Mac, and the iPad Pro.
'This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us,' said Tim Cook, Apple's CEO.
The company said it saw record revenue in each of its geographic areas, as well as its installed base climb to record highs. Apple returned $23 billion to shareholders in the quarter, fueled by share buybacks and its quarterly dividend.
While Apple sees strong growth ahead, the company warned that a global shortage in semiconductor chips could lower its current quarter revenue by $3 billion to $4 billion as it struggles to meet demand for its iPad and Mac products.
Apple's strong performance in the quarter prompted upgrades from analysts. Goldman Sachs threw in the towel on its 'Sell' rating and upgraded the company to Neutral, while Wedbush analyst Daniel Ives increased his price target to $185, representing potential upside of 35% from current levels.
Apple is set to open at $137 in Thursday morning trades, about 6% off its all-time high of $145.09.