Apple’s blowout earnings could mean another huge year for the company

Apple helped kick off Big Tech’s earnings season on Thursday with its best quarter in history: $123.95 billion in revenue, an 11% jump year over year. And Citi managing director in equity research Jim Suva thinks Apple could be poised for another huge year.

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Daniel Howley reports for Yahoo Finance:

What’s more, the company managed all of this despite the continuing global chip shortage.

And analysts say the ride isn’t over for the iPhone maker. It still has two new product categories reportedly coming down the pike: a VR/AR headset and the long-rumored Apple car. With those new categories plus a slew of new iPhones and Macs set to land this year, Apple could be on track for one of its best years ever.

“They beat a lot, and imagine if they didn’t have the supply constraints,” Citi managing director in equity research Jim Suva told Yahoo Finance Live. “[It’s] scary in a good way of how much demand is out there for the Apple products.”

The iPhone looks to be set for a strong 2022. And that’s without including Apple’s iPhone 13 successor, which will likely be announced sometime in September.

MacDailyNews Take: $123.95 billion in revenue is a pretty a nice way to start the fiscal year!

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  1. Apple broke the 100 billion trailing twelve month profit mark (few if any have). They had a lot of new customers across non iPhones. Customers for Apple usually remains so and purchase value adds.
    And Apple has stated they want to be earnings neutral — meaning they return to shareholders what they make in profit. New categories, not even known categories, vertical integration, almost a 100 billion in cash. Great investment IMHO…

  2. A giant Fu to Apple H8888888terz… downvote away, morrrrrons. You Sssssssssuck! Every downvote proves how hopelessly useless and f’d you are.

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