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Apple sales and profit top estimates as hit from chip shortages eases

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3 years ago

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Apple sales and profit top estimates as hit from chip shortages eases

Apple is overcoming a costly global shortage of computer chips, posting record sales in the holiday quarter, beating profit forecasts and forecasting its shortfall is narrowing.

Analysts said the iPhone maker, the world’s largest company by market value, has weathered supply chain challenges, such as factory closures and shipping delays from the pandemic, better than any of its top peers. Apple shares rose about 5% in after-hours trading, recovering half of this year’s losses.

More people wanted iPhones, iPads and other gadgets than Apple had to sell during the holiday season, costing the company more than $6 billion in lost sales, or what it feared. However, Apple, the largest customer of many component suppliers, has used its purchasing power to squeeze those suppliers to provide enough products to drive record sales in its iPhones, Macs and wearables and accessories. Apple executives said the chip shortage mainly affected its older products, especially slowing iPad sales.

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“They navigate the supply chain better than anyone, and that’s reflected in the results,” said Ryan Reith, who researches the smartphone market for industry tracker IDC.

Apple said the four best-selling phones in Chinese cities were all iPhone models because rivals struggled to make their products. It was the top-selling supplier in China for the first time in six years, research firm Counterpoint Research reported on Wednesday.

Apple’s growing sales of services such as music, TV and fitness subscriptions are also helping to cushion the blow from a shortage of devices. The company said it now has 785 million paying subscribers on at least seven of its subscription services, up 40 million from the previous quarter, and assuaged investor concerns about slowing growth in rivals such as Netflix Inc.

Better yet, Apple CFO Luca Maestri told Reuters that easing the chip shortage should mean a loss of less than $6 billion in revenue for the quarter. But he declined to further estimate the future.

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“The extent of the restrictions will largely depend on how other companies, other companies and other industries will have demand for chips,” he said.

The iPhone 13, which began shipping just days before the start of the quarter, brought in $71.6 billion in global handset sales for Apple, up 9% from the 2020 holiday quarter and easily beating Wall Street’s targets, according to Refinitiv data. Maestri attributed the sales growth to a record number of upgrades to older iPhones and a double-digit increase in the number of people switching from competitors.

Complete News Source : Business Standard

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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