Apple Reportedly Demolished Wall Street Expectations.


Every primary product of the Apple line grew over 12% on an annual basis. Apple’s sales were up 36% from the June quarter last year. iPhone sales increased nearly 50% every year.

Apple’s stock was down over 2% in extended trading, and it further dropped after Apple warned that its earnings call growth in the September quarter would not be as strong as June’s.

Until now, Apple did not provide formal guidance for the sixth quarter in a row and had not since the Covid-19 pandemic.

Moreover, Apple CFO Luca Maestri said Apple expects double-digit, year-over-year growth in the current quarter. The company expected less than 36% growth in the September quarter because of foreign exchange rates, less increase in its services business, and supply constraints for iPhones and iPads.