Apple’s CEO doesn’t seem to be concerned with the current environment as it relates to the company’s financial performance.
In an interview with The Wall Street Journal, Tim Cook spoke about the company’s Q3 2022 financial performance. Despite growing inflation and a general slowdown in hiring, Apple posted revenue of $83 billion, a record for its June quarter.
Cook said that, despite experiencing some “softness,” he actually expects revenue to accelerate in the September quarter which, as we all know, is new iPhone quarter.
“We are seeing some pockets of softness here and there. But in the aggregate, we expect revenue to accelerate in the September quarter as compared to the June year over year performance.”
Cook says the company is now hiring “deliberately.”
While iPhone and services revenue increased in the third quarter, Mac and iPad revenue declined. Cook blames this on a lack of supply rather than a lack of demand.
“There is no obvious evidence in our data that there is macroeconomic effect on iPhone sales. On iPad and Mac, frankly, we didn’t have enough data from a supply point of view to really test the demand.”
When it comes to hiring, Cook says that the coming is still doing so but “in a very deliberate way.”
“We are making deliberate decisions about where to invest our money, but we’re continuing to hire, but we’re just doing it in a very deliberate way.”
In the company’s press release about its third quarter results, Cook said that record revenue was a reflection on Apple’s ability to “innovate, to advance new possibilities, and to enrich the lives of our customers.”
“This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers. As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”
You can learn more about the company’s Q3 2022 in over coverage here.
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