Over the last three months of 2021, Apple saw its revenues increase by 11% and its profits by 20%. Once again, the American giant was able to count on iPhone sales, the group’s cash cow, to reach new heights.
The shortage of microchips may drag on, but it has very little impact on Apple’s performance. Over the last three months of 2021, the apple brand saw its revenues increase by 11% and its profits by 20%. Over the period, very important for the Cupertino company since it includes Black Friday and Christmas, this represents a turnover of 123.9 billion dollars and profits of 34.6 billion dollars.
Once again, the American giant was able to count on iPhone sales, the group’s cash cow, to reach new heights. These amounted to 71.6 billion dollars in the last quarter of 2021, against 65.6 billion dollars a year earlier. Another segment that is doing well at Apple is that of services, which generated 19.5 billion dollars between October and December, or 3.7 billion dollars more compared to the same period in 2020. This good progress is to the credit of Tim Cook who embarked on a diversification strategy to transform the group into a service company (Apple TV+, a video streaming service intended to counter Netflix, Apple News+, an online press kiosk, Apple Arcade, a video game service…).
iPhone and services continue to carry Apple
The good form of these growth engines of Apple helped offset the decline in iPad sales, down 14% in the last quarter. It is by far the group’s vertical most affected by the semiconductor crisis, which is weakening the supply chain of the technological giants. The Californian firm estimates that this crisis caused it to lose $6 billion in revenue between July and September 2021. But it hopes to see the situation improve in the coming months to reduce its inability to deliver all the products expected by consumers.
As one of the most resilient companies in the world to the semiconductor crisis, Apple has generously rewarded its boss, Tim Cook, for his achievements. The successor to Steve Jobs received $ 98.7 million as part of his duties in 2021, against “only” $ 14.8 million the previous year. Tim Cook’s exceptional compensation in 2021 crowns his ten years at the head of the Californian company. While it weighed 345 billion dollars on the Nasdaq when it came to power in August 2011, it saw its market capitalization briefly exceed the 3 trillion dollar mark for the first time in its history at the start of the year. If the American giant has since fallen to 2600 billion dollars on Wall Street, it hopes to quickly resume its triumphal march to break new records.