Apple reported Thursday night Norwegian time that the company had sales of $97.2 billion in the previous quarter and earned $1.53 per share. Business volume is 9 percent higher than it was in the corresponding quarter of last year and is a record.
Sales of the iPhone in the first quarter were $50.6 billion, the Mac $10.4 billion, and the iPad $7.6 billion. iPhone sales increased just over 5 percent compared to the corresponding quarter last year.
The record result for this quarter is evidence of Apple’s continued focus on innovation and our ability to create the world’s best products and services, Apple CEO Tim Cook said in a press release.
Analysts, on average, expected Apple to generate $93.9 billion in revenue this quarter, and earn $1.43 per share.
Apple has had skewed fiscal years, so it’s the second quarter it’s now giving numbers. The trading value in the first half of this year amounted to 221.2 billion dollars, up from 201 billion dollars in the same period last year.
An assessment before tonight’s numbers was that the numbers would exceed expectations, which it did, but the future prospects will be disappointing. The latter is the most important for the stock market. Apple shares were up 4.5 percent before the numbers became known and they are also publicly traded.
better than expected
After the launch of the iPhone 12 in 2020, iPhone revenue rose sharply. Now it comes to the iPhone 13.
“We think iPhone 13 demand remained better than expected in the quarter,” Morgan Stanley analyst Katie Huberty wrote to investors last week. According to CNet.
However, according to the same site, Apple warned last year that it was struggling to complete enough iPads and MAs to meet demand.
E-commerce giant Amazon generated NOK 116.4 billion in sales in the first quarter, up 7 percent from the first quarter of 2021. Business volume was in line with expectations, but earnings per share were much weaker than expected. Thus, the stock is down nearly 10 percent in aftermarket trading on Nasdaq Thursday night NST.
The market capitalization of Apple is currently 2,660 billion dollars, which is about 25,000 billion crowns. It’s more than double the oil fund that owns a small portion of the giant. In January, values fell by $3,000 billion.
The stock price as shown in the chart below is rather low from the top, but the price drop is not as big as some other technology companies. This year, the share is down about 8 percent.
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