Apple sales beat expectations, but iPhone hits supply constraints
Apple reported stronger-than-expected revenue and profits for its fiscal second quarter, driven by strong demand for MacBooks and services, though iPhone sales slightly missed forecasts due to supply constraints on advanced chips. Incoming CEO John Ternus played a key role in product development, including the new MacBook Neo and updated iPhone lineup. Despite supply chain challenges, Apple maintained healthy margins and increased its share buyback program by $100 billion.
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Open this photo in gallery:Apple holds its annual software developer conference in June.Brendan McDermid/ReutersShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountApple AAPL-Q on Thursday reported results that beat Wall Street estimates, with customers showing eagerness to buy a new MacBook model driven by incoming CEO John Ternus, while supply constraints hindered iPhone sales.Apple said sales and profits were US$111.18-billion and US$2.01 per share for the fiscal second quarter ended March 28, above analyst expectations of US$109.66-billion and US$1.95 per share, according to LSEG.
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