Apple is delaying this year’s new iPhones

Yolanda Curtis
August 2, 2020

This was made known during the tech giant's earnings call for the second quarter of the year (via) which is the company's third fiscal quarter of 2020. Not only did the company beat expectations with revenue of almost $60 billion and an 11 per cent growth over previous year, it also saw a sales bump across every product it sells.

"Similar to last quarter, given the uncertainty around the world in the near term, we will not be issuing revenue and margin guidance for the coming quarter", Apple CFO Luca Maestri said.

Apple sold more iPhones, iPads and computers that led to a rise in earnings, according to Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Similar to last quarter's performance, the App Store, Apple Music, Cloud Services, along with increased use of apps like iMessage, Siri, and FaceTime, helped contribute to the increase in revenue. "This year, we project supply to be available a few weeks later".

The delay to the iPhone 12 release was announced during Apple's latest earnings call, in which the company announced positive news for the third quarter this year. The list of companies that have a disruption in the manufacturing processes includes some Apple suppliers for iPhone components.

Apple, which no longer reports quarterly sales in individual product categories, reported $26.42 billion in iPhone revenue, and $13.16 billion in services revenue. Apple moved more than 500 million yuan ($72 million) of devices in a single day during JD's "6.18" shopping marathon, the Chinese company said.

The Apple executive also said that some services, including AppleCare repairs and advertising, were negatively impacted by the pandemic. The board also approved a dividend of $0.82 per share of the company's common stock. We chose to find out and created scaled images of what the iPhone home screen will look like on the smaller screen so you can try it out for yourself using your current phone!

At the close of the market on August 24th, each Apple shareholder of record will get three extra shares for every share held.

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