Friday, February 23, 2024

Supplies of Apple Products to Improve in March Quarter

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Apple faced significant supply constraints across all devices during the first fiscal quarter of 2022, but product supplies are expected to improve in the March quarter, Apple CEO Tim Cook told The Wall Street Journal ahead of today’s earnings call.

“We saw supply constraints across most of our products,” Mr. Cook said in an interview Thursday as the company released its results. “We’re forecasting that we will be less [constrained] in March than we were in the December quarter.”

Cook said that Apple expects to see year-over-year revenue growth in the March quarter, but he stopped short of providing details about when he thinks the supply chain issues facing the tech industry will ease.

“We’re not projecting that,” Mr. Cook said. “You need to know a lot of things to be able to make an accurate forecast there, like how are other people’s demands in addition to what kind of supply we can squeeze out.”

Even with the supply issues that Apple faced in the holiday quarter, the company today announced record revenue earnings of $123.9 billion. The iPhone and Mac set all-time quarterly revenue records as did wearables (Apple Watch and AirPods) and Services.Tags: earnings, AAPL
This article, “Supplies of Apple Products to Improve in March Quarter” first appeared on MacRumors.com

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