Apple sent its earnings report for the second quarter of 2021 back to buyers at this point after the bell, and it’s been another big year – so big, in fact, that buyers are involved that it’s unsustainable because the world is in a brand new one , later part of the pandemic kicks in. Quarterly earnings were $ 89.58 billion, a document for the March quarter, up 54% year over year. The crowd exceeded predictions and expectations of buyers and analysts as well as the report. The gross margin was 42.5%.
Apple reported double-digit advances in every product class. Mac income grew 70.1% ($ 9.10 billion and $ 7.8 billion, respectively) from last year iPhone increased 65.5% (to $ 47.94 billion). Every dinner and analyst from Apple CEO Tim Cook have referred to as iPhone 12 Start a “huge cycle” in which adoption, upgrades, and gross sales are significantly stable due to many elements.
In the services segment, this business segment posted year-over-year growth of 26.7 percent (to $ 16.9 billion) and record sales of $ 16.9 billion – a year-over-year increase of 27 percent. “Other products”, which include primarily wearables like the Apple Watch and AirPods, recorded growth of 24 percent and achieved sales of 7.83 billion US dollars.
Speaking to investors, Apple manager Tim Cook and others at the company asked questions about the sustainability of this type of revenue and growth given a partial transition from a pandemic lockdown mindset in some regions.
Analysts and Apple themselves have both said the company’s products are thriving amid the pandemic. For example, Mac sales have increased in part due to the increase in remote working and schooling, although the introduction of the M1 chip last fall likely also played a role.
Additionally, semiconductor supply bottlenecks could jeopardize the company’s ability to meet demand in the coming quarters. Apple representatives admitted that it is difficult to predict where things will go from here and again declined to provide guidance for the next quarter. (You haven’t done this since the global pandemic started.)
Additionally, Cook spent much of his time on the call either summarizing the product and service announcements from the company’s April 20 event or talking about Apple’s various green initiatives. Apple stock rose nearly 4 percent after the call in after-hours trading, but fell to just 2 percent from the previous level at the time of this writing.