Apple reports December quarter earnings on Thursday, and analysts expect the company to post its first revenue decline – however slight it may be – since 2019.
The company couldn’t build enough of its high-end iPhones when its primary assembly facility in China was shut down for weeks during covid lockdowns.
Apple gave a rare warning to investors that month explaining that production issues would result in lower shipments than “previously expected.” It was a data point that caused many analysts watching the stock to cut their estimates.
“We believe the peak impact of the disruptions was felt in early to mid November as wait times hit an extreme level (link) as the wait time in the US for the 14 Pro and 14 Pro Max reached 34 days while wait time in China at the high-end hit 36 days,” UBS analyst David Vogt wrote in January.
Analysts polled by Refinitiv expect Apple to report just over $121 billion in revenue in the December quarter, which would be a slight decline from the company’s $123.9 billion from a year ago.
MacDailyNews Take: For Apple’s holiday 2022 quarter, it’s not a demand issue, it’s a supply issue – because somebody painted Apple into a CCP-controlled corner and began to try to extricate the company from its trap way too late. At least that effort has finally begun in earnest.
It’s smart for both Apple and Foxconn to diversify assembly outside of China. There’s no sense having all of your eggs in one basket. — MacDailyNews, April 2, 2019
India will help power Apple’s growth for many years. – MacDailyNews, January 4, 2017
MacDailyNews Note: As always, we’ll have Apple’s earnings results for you on the 27th right after market close (1:30 p.m. PDT / 4:30 p.m. EDT) and follow that with live notes from Apple’s Q422 conference call.
Here’s what Wall Street is expecting for Apple’s Q123 (calendar Q422), according to Refinitiv consensus estimates:
• Revenue: $121.19 billion
• Earnings per share: $1.94 per share
• iPhone revenue: $68.29 billion
• Mac revenue: $9.63 billion
• iPad revenue: $7.76 billion
• Other products revenue: $15.26 billion
• Services revenue: $20.67 billion
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No One Can Escape The Biden Economic Curse.
Or is that Jerkeee
So typical of a Biden snowflake, you can’t handle the obvious TRUTH, so auto reflex to childish hit and run name calling…
TRUTH?!? Son, you wouldn’t know the truth if you had a reverse lobotomy and were implanted with Trump’s bigly brain.
Speaking of Trump, let’s go back and look at your posts all over from 2016 to 2020 and see what “hit and run name calling” we find, shall we?