Gadget maker Apple has published a report for the fourth quarter of fiscal 2021. Here's How Earnings and Sales Grow Compared to 2020, and Here's What Analysts Expected:
- earnings per share - 1,24 (+69,9%) against the expected 1,24 $;
- general sales - 83,36 (+29%) against $ 84.85 billion;
- iPhone — 38,87 (+47%) against $ 41.51 billion;
- iPad — 8,25 (+21,4%) vs. $ 7.23 billion;
- Mac — 9,18 (+1,6%) against $ 9.23 billion;
- accessories - 8,79 (+11,5%) against $ 9.33 billion;
- Services - 18,28 (+25,6%) against $ 17.64 billion.
Apple sales are below expectations for the first time since May 2017. After the report, at the postmarket, The company's shares fell by 3,5%, to 147,2 $.
According to Apple CEO Tim Cook, the company missed $6 billion in revenue due to a shortage of chips: “We have very good performance, despite the more serious, than we expected, stock restrictions, That, according to our estimates, cost us six billion dollars. All due to lack of microcircuits, about which so much has been said, and industrial disruptions in Southeast Asia, related to COVID».
Cook stated, that the company lacked the most old processors for previous device models. Latest iPhone 13 Pro and Pro Max also lacked some components, e.g. camera modules, but it didn't affect sales that much.: the company released new smartphones in mid-September, just two weeks before the end of the quarter.
Chip shortages could cut next-quarter sales by more than $6 billion, said Cook. In spite of this, Apple expects stable revenue growth compared to last year. In the last quarter of 2020, the company earned $111.4 billion. Analysts forecast for this quarter is $120 billion, What's on 8% more in annual terms.
Separately, Apple noted an increase in revenue in the services segment by 25,6%, which include content sales on the App Store, music subscriptions, extended warranties and more. According to Cook, Apple has 745 million paid subscribers, including App Store subscriptions: "That's 160 million more, than a year ago, and five times more, than five years ago. This is a real growth cycle ".
In 2021, Apple shares still lag behind the S index&P 500: 18 against 24%. But last year, when demand for Apple products skyrocketed during quarantine, The company's shares were many times more profitable than the index: 76 against 16%.
