The largest company in the world is confident that its revenue will continue to grow despite the ongoing global economic concerns. Apple (AAPL) CEO Tim Cook shared his confidence that revenue would accelerate as part of Apple’s fiscal third-quarter earnings report on July 28, 2022.
In a statement to CNBC’s Steve Kovach, Apple CEO Tim Cook said he expects Apple’s revenue outlook to accelerate going forward stating, “In terms of an outlook in the aggregate, we expect revenue to accelerate in the September quarter despite seeing some pockets of softness.” Cook went on to say, “We do see inflation in our cost structure. We see it in things like logistics and wages and certain silicon components and we’re still hiring, but we’re doing it on a deliberate basis.”
While Apple doesn’t provide guidance for its earnings, you can bet that shareholders will remember this confidence when future earnings reports release. Global recession concerns are growing among consumers, and chipmakers are seeing a decrease in demand as a result. There’s no denying that Apple is a juggernaut, but it will still be impressive to see revenues accelerate in a bleak economic climate. That said, Apple’s revenue for Q3 2022 rose 2%. You can read about Apple’s Q3 2022 earnings results in detail right here on Shacknews.
In contrast to the topics that Tim Cook did talk about are the things that he didn’t. Cook has yet to address the ongoing #AppleToo movement, or the recent unionization of an Apple Store in Towson, Md. As the largest company in the world pushes ahead with confidence that their revenues will accelerate, the silence when it comes to worker’s rights is disappointing.
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