Emily Chang, the journalist who was able to interview Jeff Bezos just after his first trip to space, was able to speak with Tim Cook last week. In a tweet recently shared on her profile, the host of Bloomberg tells what the CEO with more than 770 million dollars in revenue would have revealed to him about the future of the apple brand.
Cook notably mentioned the case of the current recession, which, for him, will not prevent Apple from continue to invest. The group will, however, study its spending more, which echoes other information from Mark Gurman that Cupertino is considerably slowing the pace of its hiring. A situation also experienced by Facebook (Meta) and Google (Alphabet).
Should we worry about profits?
As to income, Tim Cook is confident and explains that Apple should -despite some slowdowns- accelerate their growth during the month of September. As a reminder, this is when we could see the iPhone 14 and its different versions, but also perhaps several Macs. Products whose base price often exceeds one thousand euros each.
And the China, then ? On site, the coronavirus paralyzed production plants for long weeks. But Cook explains that demand and stocks are already improving seriously, which can only be a good sign for sales made later by resellers or in Apple Stores. Add to this a payment in installments now offered for the French, and you get the winning recipe for the second half.
Record results in October
The next official financial statistics of the Apple firm will be published towards the end of October, if Apple does not deviate from its habits. The company’s third quarter is seeing the highest year-over-year revenue since 2017, and it would be very surprising to see the trend reverse despite shortages penalizing contractors.
Moreover, the services are now Apple’s second largest revenue driver, accounting for 24% of the pie at the latest. A number that is almost constantly climbing too, even if subscriptions lost some 200 million dollars between April and June.