Pandemic? Recession? Apple does not seem to know. The Californian giant posted an 11% jump in its turnover during the last quarter and saw its profits climb by 18%. Analysts, however optimistic, have once again underestimated Apple.
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In three months, the iconic company sold $ 59.7 billion in goods and services and grossed $ 11.3 billion in profits. No other listed company in the world can say the same.
Like other digital leaders, such as Microsoft, Amazon or Facebook, the Cupertino (California) company demonstrates that confinement, education and remote working make its products and services even more essential in the eyes of million consumers. The April release of a relatively cheaper iPhone model is also timely to support demand in a saturated global smartphone market.
Despite a deep recession, a wave of unemployment and great uncertainty about how the economy will develop over the next few months, consumers in all parts of the world have flocked to iPhones, iPads. and Macs. If Apple's stores had not been closed and the group's supply chain had not been disrupted by the pandemic, Apple's performance would have been better.
IPhone and Mac sales surprise for the better
In this regard, Luca Maestri, the CFO of Apple, confirms that the launch of the new iPhone, event which is usually held in September, will be postponed by a few weeks. He suggests that a date in October is plausible.
Meanwhile, iPhone sales have climbed in three months to $ 26.4 billion, roughly 4 billion more than expected by analysts who had expected stable demand compared to the same period. last year. Mac sales also surprise favorably to exceed $ 7 billion.
" I think the stimulus measures, not just in the United States, but in general, have contributed to these gains, " said Tim Cook, the boss of Apple, modestly. In the category of services, essential to free Apple from its dependence on the iPhone, sales climbed from $ 11.5 billion to $ 13.2 billion. This category includes App Store, Apple Music, and iCloud data storage subscriptions. Apple boasts 550 million paying subscribers and is targeting 600 million by the end of the year.
To maintain a large individual shareholder base, Apple decides to divide its stock into four. At more than $ 400 today, the action could therefore fall back to around $ 100 after distribution of three shares to holders on August 24.
Read also: Apple promises a zero carbon footprint for all its products by 2030
Apple's price since the start of the year has taken off by more than 30%. Outside of trading hours on the Nasdaq, the stock on Thursday night traded up more than 6%.
