Tim Cook Expects Apple's September Quarter Revenue Growth to Accelerate Despite 'Pockets' of Softness
Apple today reported its earnings results for the third quarter of the 2022 fiscal year, including revenue of $83 billion and net quarterly profit of $19.4 billion. As usual since the start of the COVID-19 pandemic, Apple did not provide formal revenue guidance for the ongoing quarter, but Apple CEO Tim Cook did help to set expectations.
Cook told CNBC's Steve Kovach that he expects year-over-year revenue growth to "accelerate in the September quarter" compared to the June quarter "despite seeing some pockets of softness" in some areas, including digital advertising across its platforms.
Speaking on Apple's earnings call, Cook said Apple is facing a "cocktail of headwinds" affecting its revenue, including a strong U.S. dollar that is expected to cause a foreign exchange headwind of around $5 billion in the September quarter, along with supply constraints and a loss of business in Russia amid its war on Ukraine. Cook said Apple's Wearables, Home, and Accessories category is also facing macroeconomic headwinds.
Apple reported revenue of $83.4 billion in the September 2021 quarter. On average, analysts expect Apple to report $90 billion revenue in the September 2022 quarter, according to data compiled by Yahoo Finance.
Apple's fourth quarter began June 26 and runs through September 24. The quarter has already included the start of orders for the new MacBook Air with the M2 chip, and it will likely include at least a few days of iPhone 14 pre-orders as well.
Popular Stories
Apple's website continues to state that the first vehicle models with next-generation CarPlay will "arrive in 2024." With less than three days remaining in the year, however, that timeframe is looking more and more unlikely.
It would not be entirely Apple's fault if the stated 2024 target is missed, given that it is ultimately up to automakers to roll out the software in vehicles, but it is...
Even though iOS 18.1 and iOS 18.2 added multiple Apple Intelligence features like Image Playground, Genmoji, Writing Tools, and more, there are still new Apple Intelligence capabilities that we're waiting on. Apple has at least one more major Apple Intelligence update coming in 2025, and the functionality that we're expecting is outlined below.
Priority Notifications
Notification summaries...
Starting with iOS 18.2, released earlier this month, Apple News+ subscribers in the U.S. have access to daily sudoku puzzles in the Apple News app.
There are easy, moderate, and challenging difficulty levels for the daily puzzles. A scoreboard tracks your sudoku stats, including your total number of puzzles solved, fastest completion times per difficulty level, and more.
Sudoku is the...
Apple released iOS 18.2 in the second week of December, bringing the second round of Apple Intelligence features to iPhone 15 Pro and iPhone 16 models. This update brings several major advancements to Apple's AI integration, including completely new image generation tools and a range of Visual Intelligence-based enhancements. Apple has added a handful of new non-AI related feature controls as...
iOS 19 will not drop support for any iPhone models, according to French website iPhoneSoft.fr. The report cites a source within Apple.
The report said that iOS 19 will be compatible with any iPhone that is capable of running iOS 18, which would mean the following models:
iPhone 16
iPhone 16 Plus
iPhone 16 Pro
iPhone 16 Pro Max
iPhone 15
iPhone 15 Plus
iPhone 15 Pro
...
Apple is expected to release an AirTag 2 next year, and a few new features and changes have already been rumored for the item tracker.
Below, we recap what to expect from the AirTag 2:
The new AirTag is expected to be equipped with Apple's second-generation Ultra Wideband chip for longer range. The chip debuted last year in the iPhone 15 and the Apple Watch Ultra 2, and Apple said it...
Despite being released over two years ago, Apple's AirPods Pro 2 continue to dominate the wireless earbud market. However, with the AirPods Pro 3 expected to launch sometime in 2025, anyone thinking of buying Apple's premium earbuds may be wondering if the next generation is worth holding out for.
Apart from their audio and noise-canceling performance, which are generally regarded as...
Apple this week began teasing some kind of upcoming Apple TV+ surprise that's set to happen on January 4 and January 5, telling customers to "stay tuned" and "save the date" in social media posts.
Apple's images have a tagline that says "See for yourself," but it isn't clear what Apple has planned. Some users on Reddit have speculated that Apple might be planning to launch a promotion that...
Apple TV+ is set to be available to stream for free from Saturday, January 4 to Sunday, January 5, providing its full catalog with no subscription fee.
Following a series of teasers, Apple today confirmed the free weekend on social media, building anticipation for new releases early in 2025 such as the second season of "Severance." Simply open the Apple TV app to watch for free.
This ...
