- Apr 12, 2001
Apple today released its earnings results for the second fiscal quarter of 2020, but declined to provide guidance for the third quarter due to the current economic instability. Apple CFO Luca Maestri did provide a bit of information for investors, though, offering insight into how Apple expects the ongoing health crisis to affect product sales.
Maestri said that it expects year over year performance for iPhone and the wearables category to worsen in the June quarter relative to the March quarter, while for iPad and Mac, Apple expects year over year revenue performance to improve.
Apple CEO Tim Cook said that Apple sees iPad and Mac revenues improving due to all of the customers who are learning at home and working remotely at the current time.
Cook also said that Apple saw steep declines in demand in March and early April as the shelter in place orders went out, but in the second half of April, there was an uptick across the board due to stimulus programs, new product releases, and the fact that consumers expect the pandemic to "go on for a little while longer," stocking up on products needed to work at home.
Article Link: Apple Expects to See Growth in iPad and Mac Categories Next Quarter as People Work and Learn From Home