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Apple’s iPhone 12 powers tech giant to another blowout quarter

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Apple’s iPhone has once again powered the tech giant to another blowout quarter, according to figures released on Tuesday, July 27.

The Cupertino, California-based company announced iPhone sales of a whopping $39.6 billion for the three-month period ending June 26, up 50% on the same quarter a year ago.

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The handset sales have mainly comprised Apple’s iPhone 12, four versions of which were released last year, though sales of the iPhone 11, XR, and SE2 also contributed to Apple’s income.

The iPhone 12 launched last year with a new, boxier design, an A14 chip for improved performance, upgraded cameras, and 5G wireless speeds — for those able to access the zippier service.

Sales of all devices, including phones, Macs, iPads, and smartwatches, along with revenue from services such as iCloud, Apple Music, Apple TV+, and Apple Fitness+, helped the company rake in revenue of $81.4 billion, an increase of 36% year over year and a record for that particular quarter. The figure also smashed Wall Street expectations by $8 billion.

Apple’s total profit for the three-month period came in at $21.7 billion, almost double that of last year when more people were trying to deal with the coronavirus outbreak.

Responding to the latest financial results while touching on the effects of the ongoing pandemic, Apple CEO Tim Cook commented: “This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important.”

Apple’s impressive performance over the last three months comes off the back of the previous quarter ending March 27 that saw the tech company announce an astonishing $89.6 billion in revenue, with $47.9 billion of that generated by iPhone sales — even higher than the latest figure.

Apple will drop its next quarterly report in October, around the time the company is expected to launch the next iteration of the iPhone that it hopes will propel it to even more blowout quarters.

One spanner in the works could be the global chip shortage. Apple struck a cautionary tone in April when it said that supply constraints could adversely affect device sales to the tune of $4 billion at the high end, though Cook said on Tuesday that Apple was able to operate in a way that reduced the expected impact.

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