Apple CEO Tim Cook said the company – and everyone else – is seeing inflationary pressure in an interview with CNBC’s Julia Boorstin on Thursday.
Certainly, so far, inflation hasn’t hurt Apple’s business, which reported rising gross margins in the holiday 2021 quarter. Apple hasn’t yet raised prices in response to inflation in the United States.
“We try to price our products for the value that we deliver and we are seeing inflationary pressure,” Cook said. “I think everybody’s seeing inflationary pressure. There’s no two ways about that.”
The consumer price index, an metric measuring price increases across a basket of consumer goods, rose 7% in December from a year earlier, its fastest annual pace in nearly 40 years.
On a earnings call with analysts, Cook expanded on how inflation is affecting Apple’s business and gave an example of shipping costs.
“We’re seeing inflation and it’s factored into our gross margin and opex that [Apple CFO] Luca [Maestri] reviewed with you earlier,” Cook said. “Logistics, as I’ve mentioned on a previous call, is very elevated in terms of the cost of moving things around.”
Cook said that he hoped the increased costs would be temporary.
“I would hope that at least a portion of that is transitory, but the world has changed and we’ll see,” Cook said.
MacDailyNews Take: The bad ship USS Transitory has sailed, and subsequently sunk, quite some time ago, but it’s good to have dreams, albeit of the pipe variety, we guess.
‘Tis best to get a handle on inflation, if you know how, while you still can. – MacDailyNews, May 11, 2021
Earlier this month, Interactive Brokers founder Thomas Peterffy said, “Inflation is 7% — 1% or 2% [in interest rate hikes] doesn’t mean anything. If they really wanted to stop inflation, they would have to raise rates to 4%, 5%, 6%.”
Inflation is repudiation. — Calvin Coolidge
When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident. — Ronald Reagan
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“The bad ship USS Transitory has sailed, and subsequently sunk, quite some time ago, but it’s good to have dreams, albeit of the pipe variety, we guess.”
LOL!
This is what happens when you steal an election and install a compromised, owned, globalist establishment puppet controlled by idiots.
And Tim Cook, fucking delusional as always, voted for this rolling disaster.
For those interested in the truth:
https://threadreaderapp.com/thread/1486032341210480645.html
Sweet Jeebus…it’s 2022. You’ve had 15 months, spent hundreds of millions barking at the moon, had countless legal cases dismissed for total lack of evidence, all the way to the SCOTUS. T Rump was so unpopular that millions more turned out to vote. The Court of Public Opinion won. Suck it up. Man up. Stop whinging and whining like a thin skinned snowflake. Swallow the medicine you prescribed in 2016.
Try not to be a Karen.
You can’t erase the election fraud forever in 15 months or 15 years. It’s part of history and the media is corrupt and complicit not covering the issue because their team won.
In PA last week judges ruled no question mail in ballots ruled UNCONSTITUTIONAL passed by the Governor’s office circumventing the legislative process which just happens to be state law.
Wake up partisan dummy, the facts will continue to come out…
Biden is the dumpster fire. An American traitor, dementia-laden, electoral THIEF. If you want to know what am American Idiot looks like, don’t look to Greenday… look to Joseph “Batman and Robinette” Biden. The Big guy with ever shrinking brains. The only thing enlarged about him is his prostate.
https://2000mules.com
Cook cast his vote for this disaster into the sea of untraceable ballots stuffed into unmonitored, unconstitutional swing state “ballot boxes” paid for by Mark Zuckerberg.
Now we all get to wallow in the mess.
Luckily for us all, even those of you on the left side of the IQ bell curve, Tuesday November 8, 2022 is coming and we’re watching how it proceeds very, very closely:
RNC Building ‘Army’ of GOP Poll Workers After Decades-Long Court-Ordered Hiatus
Rigged: How the Media, Big Tech, and the Democrats Seized Our Elections
Most elected Republicans went along with the steal, this isn’t just a “Democrats bad!” problem, it’s a Uni-party, globalist, leftist oligarchy problem. Assuming that the election was stolen, do you really think the string-pullers are going to let voting taking a normal course again this November? Best case scenario is that a new crop of Mitch McConnell CON-servatives pretending to be America First take control of Congress and downshift the clown world insanity train to oblivion from sixth gear to fifth. If only the Jan. 6 mostly peaceful protest had been what the leftists maniacs are screeching that it was. Revolution or collapse (or both) are the only ways out of late-stage imperial decay. Surviving, protecting our families and eventually rebuilding is our mission, not electing new soon-to-be traitors.
“Don’t underestimate Joe’s ability to fuck things up.” – Barack Hussein Obama, himself a master
Yep, we now have Bidenflation. Unlike the President’s moments of lucidity, Bidenflation is not transitory.
Hey, Timmy, billionaire socialist, President Trump was right, again:
Let’s inflate, Brandon!