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In the fourth quarter of 2022, Apple recorded revenue of $90.15 billion. If the number will decrease by 1%, as the chief financial officer suggests, Apple will report a revenue of $89.25 billion for the current quarter. Refinitiv analysts forecast quarterly revenue of $90.19 billion for the company. – Kif Leswing
Here’s how Apple sees the current quarter coming out
Apple CFO Luca Maestri has provided data on how the company views the September quarter. He said the results would show a decline in annual revenue as of the current quarter, which caused sales to fall by more than 1%.
However, he expects iPhone sales to do better than their 2% decline in the June quarter, and that the strong growth rate of Apple’s Services division will be higher in the next period. iPad and Mac sales will decline in the double digits, he added.
Apple shares fell about 2% in extended trading. Here’s what he said:
“We expect our annual earnings performance in September to be similar to the June quarter, assuming the economic outlook remains unchanged from what we expect today for the quarter and five now..
The exchange rate will continue to be the main one and we expect a negative financial impact year over year of more than 2 percent. We expect the iPhone every year and the performance will be raised by the quarter of June.
Additionally, we expect Mac and iPad revenue to decline in the double digits each year due to strong comparisons, especially on the Mac. For these two products, we experienced a supply disruption due to plant closures in the June quarter of last year, and we were able to meet the demand in the September quarter of last year.
We expect a margin between 44 and 45%. We expect OpEx to be between $13.5 billion and $13.7 billion.”
– Kif Leswing
How iPhone sales and operating income relate to Apple
The operating segment is smaller in terms of sales than Apple’s hardware, but it is more consistent from quarter to quarter and shows little seasonal variation.
The Apple call starts
You can listen to it on Apple’s website or save it here for Cook and Maestri’s highlights. – Kif Leswing
Here’s what Apple’s net sales were like three years ago
Apple on Thursday announced its third quarter with lower revenue.
Cook said Apple has been working on generative AI for years
A topic absent from Apple’s quarterly report is intelligence. While other companies talk about AI models like ChatGPT and what they do to sell similar technologies, Apple talks a lot about it because it’s a product company and it doesn’t exist. Sell development tools like cloud computing.
But in an interview with CNBC on Thursday, Cook said that Apple has been working on generative AI and other models for several years. “We see AI and ML as core technologies. And they’re built into every product we build,” Cook said. “In terms of research, we have been investigating AI and machine learning, including generative AI, for many years,” he added. – Kif Leswing
Apple will showcase the new Pro virtual reality headset at the Apple Store
Apple’s Vision Pro headset is on display during Apple’s Worldwide Developers Conference at its headquarters in Cupertino, California on June 5, 2023. Loren Elliot | Reuters
Apple unveiled Vision Pro, its virtual reality flagship, in June. The company calls the Vision Pro its first “space computer” that can connect computer graphics to the real world. Customers who want to try the device and find out what it’s all about may not have to wait long. Cook told CNBC that the company plans to display the helmet in its stores. “We’re going to make the in-store presentation look like what you get,” Cook told CNBC’s Steve Kovach, referring to the presentation given to the media when the Vison Pro was announced.
“I’m sure we’ll be inundated with requests for demos for quite some time,” Cook continued. “But we see the role of retailers as a great competitive advantage to bring out a product like this or, for that matter, any product in a new style.”
Cook said it’s important for Apple to manage the display, at least initially.
“I think it’s very important that we control the process and presentation. We can do that better, honestly, with our own people,” said Cook. – Kif Leswing
Apple’s sales in China have increased
Another highlight is Apple’s performance in Greater China, which includes Hong Kong and Taiwan in addition to mainland China.
