Apple announced on the 28th that it exceeded market expectations in the first quarter of this year. It is the highest ever as of the first quarter. In particular, the performance was made at a time of unfavorable factors such as supply chain disruptions and high inflation under China’s COVID-19 blockade, and the market evaluates that “no one can stop Apple.” On the other hand, Amazon, which announced its performance on the same day, failed to meet market expectations. Stock prices also plunged nearly 10 percent in after-hours trading.
According to the Wall Street Journal (WSJ), Apple recorded 97.3 billion dollars in sales in the first quarter of this year, up 9 percent from a year earlier. Net income rose 8.6 percent to $25 billion. Both sales and net profit reached record highs as of the first quarter, exceeding market expectations. Market expectations were $94 billion in sales and $23.2 billion in net income. The 5.5% increase in sales of iPhone, a flagship product, was affected. It far exceeded the expected 1% growth rate, which is attributed to strong sales in China.
However, Apple expressed concern about its second-quarter earnings. In particular, Apple said in a conference call that sales are expected to fall by $4 billion to $8 billion in the second quarter due to supply chain disruptions and weak demand caused by China’s COVID-19 blockade. In fact, such anxiety factors were partially reflected in first-quarter earnings, limiting sales growth in first-quarter to single digits.
Meanwhile, Amazon, which announced its earnings on the same day, was disappointed. Amazon posted a net loss of $3.8 billion on sales of $116.44 billion in the first quarter.
