Apple’s sales increased by roughly 9% year over year in the March quarter. However, when Apple CFO Luca Maestri warned of hurdles in the quarter under review, including supply shortages that might affect sales by up to $8 billion, shares plummeted over 4% in extended trade. Apple’s share buybacks of $90 billion have been approved by the IT giants.
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Apple shares revenue
Apple’s sales increased over 9% year over year in the March quarter, confounding investor concerns about a worsening macroeconomic climate dampening demand for high-end smartphones and laptops. Apple shares plummeted almost 4% as Apple CFO Luca Maestri warned of various hurdles in the upcoming quarter. It includes supply issues connected to COVID-19, which may harm sales by $4 billion to $8 billion. COVID-related lockdowns are draining the market in China.
Apple current quarter financial Projection
Apple did not issue a projection for the current quarter, and the firm hasn’t provided formal earnings estimates since February 2020, claiming the pandemic as a source of concern. In contrast, Apple’s board of directors approved $90 billion in share buybacks. In order to keep the business on track to be the public corporation that spends the most money purchasing its own stock. S&P Dow Jones Indices estimates that it will spend $88.3 billion on buybacks in 2021.
Apple Revenue growth
Apple’s revenue growth was “outstanding” compared to what Cook anticipated, according to Cook. The Americas was the fastest-growing area, with revenues rising 20% to $50.57 billion during the quarter. Greater China, which includes Hong Kong and Taiwan, grew at a slower rate of 3.47 percent. Apple, meanwhile, was unaffected by COVID-related China lockdowns throughout the quarter, according to Cook.
Should You buy or sell Apple Stocks
Yes, there are a number of macroeconomic reasons that aren’t in Apple’s favor right now, but it doesn’t guarantee that the company’s shares will be excessively negative in the future. Some experts think that it’s critical to look at the big picture and consider how iPhone sales could perform throughout the next 2 – 3 years. As 5G technology improves and becomes more widely available, it will certainly push more consumers to make the move. So, it’s the best time to buy Apple stocks in order to get profit in the future.