Apple’s earnings report last week presented us with a familiar scene. The company posted staggering revenue and enormous profits, but analysts were quick to hone in on the negatives. A closer look at Apple’s financial position, however, reveals that the company is doing just fine and far better than some analysts would have you believe. When Apple released its earnings report last week, the company posted revenue of $89.5 billion, a staggering figure by any metric.
As a point of reference, analysts were anticipating Apple to project revenue growth of about 5% year over year. So what’s going on here? Well, if we dig a bit deeper, we find that Apple’s 2023 holiday quarter is one week shorter than it was in 2022, with Maestri noting that Q1 2024 “will last the usual 13 weeks whereas the December quarter a year ago spanned 14 weeks.” And how much money does Apple make in a week? A boatload. During last year’s holiday quarter, Apple posted revenue of $117.
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Source: verge - 🏆 94. / 67 Read more »