Apple hits record quarterly revenue

 Apple hits record quarterly revenue

Apple's revenue beat Wall Street expectations, marking the tech company's victory over chip shortages and the pandemic.

Apple on January 27 announced that revenue for the last quarter of last year increased 11% compared to the same period a year earlier, to a record of $ 123.9 billion. Previously, analysts had expected this figure to be about 119.1 billion USD.

Profits of the US technology company also beat forecasts. Apple expects sales to continue to double-digit growth this quarter. Following the news, Apple shares jumped 5.8% to more than $168.3.

These positive results suggest that concerns about supply volatility have been overstated. Apple CEO Tim Cook warned late last year that component shortages could cost the company more than $6 billion in revenue during the important holiday season. However, the tech giant has weathered the crisis and benefited from a host of new products, including the iPhone 13, Apple Watch Series 7, and new Mac computers.

"We set records in all developed and emerging markets and recorded revenue growth across every product but iPad, which we expect will be limited in supply," said Tim Cook. said in the announcement of business results yesterday.

This year, Apple plans to launch the most products ever, including the new iPhone SE and iPad Air with 5G as early as spring. Apple Watch is also updated. Four new iPhone models and more Macs will be available in the fall.

Yesterday, Cook was also asked his opinion on the metaverse (virtual universe) - the field being developed by Facebook and other competitors. Cook said that Apple is investing heavily in augmented reality (AR) and the AR apps already available on the iPhone. Apple is expected to launch mixed augmented and virtual reality headsets next year. "We see a lot of potential in this area and will invest accordingly," the Apple CEO said.