Now Reading: Apple revenue hits $109.4 billion as memory costs rise
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Apple revenue hits $109.4 billion as memory costs rise
Apple reported record June quarter revenue of $109.4 billion, up 16% year on year, with double-digit growth across most emerging markets, including India. Greater China led regional growth at 22.42%, followed by…
The Story in Brief
Apple reported record June quarter revenue of $109.4 billion, up 16% year on year, with double-digit growth across most emerging markets, including India. Greater China led regional growth at 22.42%, followed by Europe at 22.4%. iPhone revenue rose 21.7% to $54.25 billion, while Mac revenue climbed 28.66% to $10.35 billion. iPad revenue fell about 6% to $6.19 billion.
Apple CEO Tim Cook warned that memory chip prices and supply constraints could hurt results in coming quarters. The company expects memory costs to rise further in the September quarter, with carry-in inventory offering diminishing relief later. Apple has raised starting prices for some MacBook and iPad models by 20% to 42%, including in India. IDC India said iPhone prices could rise in the coming weeks.
The Indian Opinion
The easy story is that Apple’s record quarter proves demand is unstoppable, or that higher prices will quickly weaken it. Neither conclusion is supported yet. India’s growth is encouraging, but Apple still has a modest share of the country’s smartphone market. The real test is whether buyers accept price increases while memory costs keep rising, and whether supply constraints dent sales after September.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
