“Apple to report first drop in revenue since March 2019”
Apple will report financial results for the fourth quarter of 2022 on Thursday. Analysts expect a year-on-year drop in revenue, the first since 2019.
Analysts expect Apple to report its first revenue decline in several years on Thursday. It hasn’t happened since March 2019. Cupertino, like the other large tech companies, has been penalized by the decrease in the purchasing power of consumers, on the other hand, the company seems to hold up better than its competitors.
The collapse in sales in the smartphone sector has been more contained than that of other giants such as Samsung, and Apple is also one of the few tech companies that has not yet announced the layoff of thousands of employees.
This does not mean that Apple is sailing in excellent waters. The lockdowns imposed by the Chinese government have caused major delays in the supply chain of high-end iPhones, with a major impact on the number of models delivered and sold during the holiday season.
Apple had already warned investors that delays due to lockdowns would have consequences and that deliveries would be lower than initially expected. UBS analyst David Vogt quantified that in the period of greatest difficulty for Apple, waiting times for an iPhone 14 Pro had reached 34 days in the US and 36 days in China.
Analysts expect Apple to report just over $121 billion in revenue for the December quarter, which would be a slight decrease from the $123.9 billion it reported exactly a year ago.