Apple posts record March quarter revenue
Apple on Thursday beat expectations with its quarterly earnings, but warned that revenue for the current quarter will take a significant hit due to ongoing chip shortages as well as COVID-related production challenges.Apple is a bellwether for the tech industry thanks to both its size as well as the fact that it is a key buyer of other components, including displays and memory chips.for the current quarter, which runs through June.
It expects its services growth to be up from the prior year, but revenue will be dented by the supply constraints, the pause of sales in Russia and a strong dollar.Per-share earnings: $1.54 iPad revenue: $7.65 billion expecting Apple shares, which rose after the initial earnings report, headed lower after Apple issued its guidance on the conference call. Shares traded recently at $156.57, down $7.07, or more than 4 percent.: The year-over-year dip in iPad sales came amid anticipated supply constraints for the iPad.
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