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Apple Surpasses Earning Estimates – Reports 54% Revenue Increase

By John F. Heerdink, Jr.

Dow 30 component, Apple (AAPL) reported Q2 earnings this week, beating analyst expectations. Revenue soared 54% year-over-year on strong hardware sales in the quarter.

Revenue stood at $89.58 billion versus $77.3 billion expected. Earnings per share of $1.40 were reported versus $0.99 expected. iPhone revenue of $47.9 billion was reported versus $41.5 billion expected. iPad generated $7.8 billion versus $5.6 billion expected. Mac contributed $9.1 billion ahead of $6.8 billion expected.

“This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us,” stated Apple CEO Tim Cook.

Apple is still riding high on the sales of its popular iPhone 12 launched in September 2020 with 5G cellular connectivity. The pandemic-induced work-from-home and remote learning environments have also led to sales of iPad and Mac soaring. The company is also focused on its own Arm-based M1 chips and plans to ditch Intel as its primary chip provider.

However, the ongoing global chip shortage, which may last into 2022, may slow the company’s ability to get products built and eventually move to consumers’ hands.

Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it. To learn more about Apple (AAPL) and track its ongoing progress at Vista Partners Apple (AAPL), Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Apple crushes earnings expectations but warns chip shortages could hurt revenue in Yahoo Finance)


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