Apple CEO Tim Cook yesterday told The Wall Street Journal that while Apple had faced tough supply constraints across all of its devices during the fiscal first quarter of 2022, product supplies are expected to improve during the second quarter, which ends in March. Cook’s comments came just ahead of yesterday’s earnings call.
“We saw supply constraints across most of our products,” Mr. Cook said in an interview Thursday as the company released its results. “We’re forecasting that we will be less [constrained] in March than we were in the December quarter.”
Cook said that Apple expects to see year-over-year revenue growth in the March quarter, but he stopped short of explaining exactly when he thinks the supply chain issues facing the tech industry will ease.
“We’re not projecting that,” Mr. Cook said. “You need to know a lot of things to be able to make an accurate forecast there, like how are other people’s demands in addition to what kind of supply we can squeeze out.”
Apple and other electronics firms faced tight supplies in the holiday quarter, the company on Thursday announced record revenue earnings of $123.9 billion. The iPhone and Mac lineups set all-time quarterly revenue records for the Cupertino firm, as did wearables (which includes the Apple Watch and AirPods) and Services.