Apple, the world’s largest maker of consumer electronics, managed to skirt the chip shortage and beat Wall Street expectations. djtgallagher explains. WSJWhatsNow
Apple Inc.’s latest results prove the old adage about an 800-pound gorilla sitting wherever he wants—even if there doesn’t seem to be a chair.
In a market where even chip equipment makers can’t get enough chips, the world’s largest maker of consumer electronics found plenty. Enough, at least, to turn out better-than-expected sales across most of its product lines forended December. That helped Apple’s total revenue for the period rise 11% year over year to $123.9 billion. Analysts were expecting a gain of only 7% for the quarter. Apple’s share price rose 5% following its results Thursday afternoon.
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