15 September 2021
Apple’s Q3 2021 results (fiscal 2021 third quarter ended June 26) are out and as per the company, it has managed to make a new all-time high revenue. Apple’s revenue has gone up 36% YoY and it has made a total of $81.41 billion for the quarter.
The Cupertino-based company has also shared the breakdown of revenue by product category for the fiscal Q3 2021.
- $39.57 billion: iPhone (revenue up 49.7% YOY)
- $8.24 billion: Mac (Up 16.38% YOY)
- $7.37 billion: iPad (Up 12% YOY)
- $8.78 billion: Wearables, Home, and Accessories (Up 36.12% YOY)
- $17.49 billion: Services (32.90% YOY)
Luca Maestri, Apple’s CFO said,
“We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.”
Analysts believe Apple was able to perform great because of the world’s major shift to work from home. They further turn our attention to the fact that iPhone sales went up at a time when smartphone buyers were ready to switch to a 5G smartphone.
Also, in a call with analysts, Apple has warned that next quarter might not be as strong as this one because of the delay in the iPhone chip supply chain. The silicon-related constraints can affect the sales of products. As per CNBC, Apple’s stock fell after this warning.
It is, however, believed that the release of new products which is set to arrive in September will give fresh momentum to the company’s overall growth. So far leaks and rumor mills have revealed iPhone 13 series, new Apple Watch, AirPods, Mac Pro with slightly upgraded M1X processors.