Welcome to our weekly collection of all the Apple news you missed this week, in a handy bite-sized roundup. We call it Apple Breakfast because we think it goes great with a morning cup of coffee or tea, but it’s cool if you want to give it a read during lunch or dinner hours too.
On Thursday the company reported $97.3 billion in revenue for the second fiscal quarter of 2022, up 9 percent on the same quarter last year, and a stunning $25 billion in profit. Both figures are all-time second-quarter records, and almost every product category (the iPad took a small dip) showed growth. Apple reached new highs in its installed base in every one of its major product categories and geographic segments. And all this was against a backdrop which financial experts call a “tough comparison.” It’s a phenomenal performance.
But Jason Snell–based on noises made by Apple itself–senses uncertainty ahead. Supply chain constraints loom again, and CFO Luca Maestri has warned that this quarter Apple will miss out on between four and eight billion in revenue in unfulfilled demand. It’s tough to drop eight bill and keep winning.
Apple has been an astonishing success story during what’s been a grim period for everyone else. Yet that wasn’t totally unexpected. In some areas, the rise of remote working juiced demand for Apple products, and the company was better equipped than most to handle the demands of the new normal. But mostly, Apple was able to shrug off tough conditions because it’s so big and so rich, and has such a large and well-established base of loyal customers.
That doesn’t mean, of course, that Apple will be immune forever. For a long time the company was able to shrug off component shortages by calling in favours and getting preferential treatment. That worked until it didn’t.
So the future is uncertain. It would be foolish to bet against Apple, which has beat the odds before and will probably carry on churning out money for decades to come. But past performance, as they say, is no guarantee of future results. And every empire crumbles in the end.
The iPhone 14 rumor mill is starting to churn and there are some real doozies out there. What rumors seem plausible, and which ones are just outright silly? We talk about it all in this episode of the Macworld Podcast.
And with that, we’re done for this week. If you’d like to get regular roundups, sign up for our newsletters. You can also follow us on Twitter for breaking news stories. See you next Saturday, enjoy your weekend, and stay Appley!