Apple sales and profit top estimates as hit from chip shortages eases - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

But they have been down 10% this year, in line with the broader market, as investors reconsider stocks that have soared during the pandemic and shift funds toward safer assets.

Demand during the holiday quarter outstripped supply in line with Apple’s expectations, Chief Financial Officer Luca Maestri told Reuters in an interview, noting that the effect was more than $6 billion in lost sales.“The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It’s difficult for us to predict, so we try to focus on the short term,” he said.

Profit was $34.6 billion, or $2.10 per share, compared with analysts’ expectations of $31 billion and $1.89 per share. Sales for Macs rose 25% to $10.9 billion compared with estimates of $9.5 billion, and sales for accessories rose 13% to$14.7 billion compared with estimates of $14.6 billion.Apple is trading at 27 times expected earnings over the next 12 months.

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Scopa will not summon Ramaphosa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Parliament’s Standing Committee on Public Accounts (Scopa) has decided not to summon President Cyril Ramaphosa to appear before it to provide information on the alleged misuse of public funds for political party activities. MervynDirks Ramaphosa If that's the case then it's clear the state capture phenomenon is as its peak. What happened to the Trias Politica? The legislature is no longer autonomous its controlled by the Executive just like he is controling the Judiciary. under the dictatorship of you know who 🇿🇦 Your headline suggest this is a WIN for Ramaphosa. Report properly that he'll be given between 7-10 days to supply a written statement abt what said on that clip, failing which he'll be summoned to appear b4 Scopa. Eventually he'll appear b4 Scopa to explain himself. Live with it
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