Apple’s blowout earnings could mean another huge year for the company

Apple helped kick off Big Tech’s earnings season on Thursday with its best quarter in history: $123.95 billion in revenue, an 11% jump year over year. And Citi managing director in equity research Jim Suva thinks Apple could be poised for another huge year.

Daniel Howley reports for Yahoo Finance:

What’s more, the company managed all of this despite the continuing global chip shortage.
And analysts say the ride isn’t over for the iPhone maker. It still has two new product categories reportedly coming down the pike: a VR/AR headset and the long-rumored Apple car. With those new categories plus a slew of new iPhones and Macs set to land this year, Apple could be on track for one of its best years ever.
“They beat a lot, and imagine if they didn’t have the supply constraints,” Citi managing director in equity research Jim Suva told Yahoo Finance Live. “[It’s] scary in a good way of how much demand is out there for the Apple products.”
The iPhone looks to be set for a strong 2022. And that’s without including Apple’s iPhone 13 successor, which will likely be announced sometime in September.

MacDailyNews Take: $123.95 billion in revenue is a pretty a nice way to start the fiscal year!
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.

The post Apple’s blowout earnings could mean another huge year for the company appeared first on MacDailyNews.