Apple (AAPL.US)'s 1FQ results beat expectations with a YoY growth of 16% in revenue.

According to CFO Kevan Parekh, Apple estimates its revenue to increase by 13-16% YoY in 2FQ, equivalent to USD107.8-110.66 billion, compared to market expectations of USD104.84 billion.

That said, Apple also expects iPhone supply to be constrained in 2FQ. CEO Tim Cook explained that Apple is currently experiencing supply chain tensions, making it difficult to predict when supply and demand will reach equilibrium.

One of the limiting factors, as Cook stressed, is that Apple's processors require advanced chip manufacturing processes, and memory prices are likely to have a significant impact in 2FQ.
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AAStocks Financial News
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