Apple poised to post all-time record quarter

Despite global supply chain headwinds due to the response to COVID-19, Apple on Thursday after market close is expected to post another all-time record quarter.

Apple Park in Cupertino, California
Apple Park in Cupertino, California

Tim Higgins for The Wall Street Journal:

The results are scheduled to be released Thursday after markets close in New York and as U.S. equities have taken a wild ride this week amid concerns about inflation and geopolitical risks. While Apple shares had been on a tear earlier this month, they have fallen 10% this year so far to $159.69 a share Wednesday.

Year-over-year iPhone sales may have risen to $67.6 billion, a 3% gain, during the fiscal first quarter that ran October through December, according to the average estimate from analysts surveyed by FactSet. Analysts project iPhone revenue will rise less than 1% this fiscal year compared with the preceding year, when sales rose 39% and helped fuel Apple’s greatest year ever.

Even with a slowdown, the Cupertino, Calif., tech giant may report a record $31.3 billion profit, or $1.90 a share, for the important holiday period, according to analysts’ estimates… In total, analysts expect fiscal first-quarter revenue to rise 6.7% to a record $119 billion.

MacDailyNews Take: Apple reports Q122 results later today, January 27th. We’ll have Apple’s results for you as soon as they are released, just check our homepage right around 1:30 p.m. PT / 4:30 p.m. ET. We will follow that with live notes from Apple’s’ conference call starting at 2:00 p.m. PT / 5:00 p.m. ET.

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