Apple CFO Provides Guidance on December Quarter, Saying That Company’s Strong 2021 Mac Lineup Will Be Responsible for the Decrease in Revenue
Luca Maestri, Apple’s Chief Financial Officer, gave some bad news that would manifest itself in the future, and it also provided investors with added information that caused the stock to dip momentarily during the company’s earnings call. According to CNBC, the executive said that total year-over-year revenue would grow less in December than the 8.1 percent growth witnessed in the September quarter. He commented that while Mac sales would see a decline on an annual basis, services would see an increase in revenue. Maestri did not talk about the upcoming MacBook Pro models sporting the M2 Pro and M2 Max, indicating that the launch of the 14-inch and 16-inch versions may contribute little to improving revenue growth for Apple. Some customers might also hold off on purchasing the newer models since they feature the same design as the previous models and do not offer anything groundbreaking like the M2 MacBook Air. It should also be noted that since Apple’s ‘Pro’ lineup of products is priced expensively, consumers would have difficulty getting their hands on them since global inflation has adversely affected their purchasing power. Overall, Apple has earned a total of $40.1 billion from Mac sales, showing that 2022 was an excellent year for this product line. This quarter, Macs brought in $11.5 billion in revenue, up $2.5 billion year-over-year. The company continues to be ahead of the PC market, which has witnessed a decline in shipments. Companies like Lenovo and HP reported a drop year-on-year for Q3, 2022, whereas Macs continue to rake in revenue.
