Apple telegraphed that things are getting better after a tough quarter — here's how to interpret its remarks
Publishing timestamp: 2023-02-02 20:47:01
Summary
Apple reported a tough December quarter, with its biggest quarterly revenue decline since 2016. Initially, investors didn't like the results, but the stock had a brief rally after the CFO gave data points suggesting that Apple's performance will get better during the current quarter, even if overall sales will still be down from last year. Apple's iPhone, Mac, and wearables businesses all saw sales drops, but the company said that production had recovered and that the March quarter revenue performance would accelerate relative to the December quarter. Services revenue was one of the few pleasant surprises, and Apple's margins remain significantly higher than before the pandemic.
Sentiment: MIXED
Tickers: AAPL,
Keywords: tim cook, technology, mobile, business, business news, apple inc, breaking news: technology,