Apple's record $81.4 billion Q3 obliterates Street expectations

Posted:
in AAPL Investors edited July 28
Apple earned a record $81.4 billion in revenue for the third fiscal quarter of 2021, blowing past analyst expectations on the back of across-the-board growth in all major product categories.

iPhone 12


Published shortly before its quarterly conference call with industry analysts, Apple reported $81.4 billion in total revenue for the quarter ending June 2021. The figure is year-on-year growth of 36.3% from Q3 2020, when it brought in $59.7 billion at the start of the COVID-19 pandemic.

Analysts anticipated revenues of about $73.3 billion.

Gross margin of 43.29% is up from 38% last year. Net profit grew 93% YoY to $21.7 billion, while quarterly earnings per diluted share increased to $1.30.

Revenue stemming from iPhone sales reached $39.6 billion for the quarter, an increase of 52% from $25.98 billion seen in Q3 2020. Similarly, iPad revenue is also up 12% to $7.4 billion from $6.6 billion in the same period last year. Mac sales revenue grew 16% to $8.2 billion from $7.1 billion one year prior.

Services kept being a reliable growth center for Apple, with its $17.5 billion revenue up a massive 33% YoY from $13.2 billion. Lastly, the Wearables, Home, and Accessories segment is now at $8.8 billion, rising 36% from the year-ago quarter's result of $6.45 billion.

"This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important," said Apple CEO Tim Cook. "We're continuing to press forward in our work to infuse everything we make with the values that define us -- by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future."

During the quarter, Apple benefited from numerous product launches, including AirTag, the second-generation Apple TV 4K, the 24-inch iMac, the 11-inch iPad Pro, and fifth-generation 12.9-inch iPad Pro.

As with other quarters since the pandemic began, it is unknown if Apple managed to beat its own expectations, as it did not provide specific guidance in the second quarter.

During the ensuing earnings conference call, CFO Luca Maestri did not reveal exact numbers but said Apple expects double-digit growth for the September quarter. He added, however, that growth will be lower than the current quarter due to less favorable foreign exchange rates, a return to typical services growth and supply constraints for iPhone and iPad.

Read on AppleInsider
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Comments

  • Reply 1 of 79
    Aaaaaand stock tanks. Go figure.
    Beatsstevenozwatto_cobra
  • Reply 2 of 79
    fallenjtfallenjt Posts: 4,034member
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    pulseimageswatto_cobra
  • Reply 3 of 79
    pujones1pujones1 Posts: 222member
    Wow. Stock dropped off of great news!! WTF!! Where are the Robinhood folks who buy GameStop and AMC??
    watto_cobra
  • Reply 4 of 79
    Aaaaaand stock tanks. Go figure.
    What matters is the guidance and earnings call with analysts. 
    jimdreamworxwatto_cobra
  • Reply 5 of 79
    lkrupplkrupp Posts: 9,462member
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    lorca2770radarthekatbloggerblogpulseimagesfotoformatmwhitewelshdogdewmetyler82blastdoor
  • Reply 6 of 79
    DAalsethDAalseth Posts: 1,725member
    I am really surprised. I figured that after last year everyone would have updated their equipment and Apple was set for a sophomore slump. But no they’re hitting on all cylinders. I’m quite amazed by this. 
    pscooter63blastdoorwatto_cobra
  • Reply 7 of 79
    2stepbay2stepbay Posts: 115member
    lkrupp said:
    There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    Maybe those microchips are actually AirTags! That would explain the stock slump ;) 
    Beats
  • Reply 8 of 79
    lmntarylmntary Posts: 9member
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.

    Buying stock in "stupid" would seem to be the long play these days.  Anyone have the ticker for that??
    radarthekatfotoformatwelshdogAlex_Vwatto_cobra
  • Reply 9 of 79
    jimdreamworxjimdreamworx Posts: 1,077member
    Way too much "first $2.5 trillion" talk that was pushing the stock too high before earnings report.  Reality set in.
    lkruppwatto_cobra
  • Reply 10 of 79
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    Well, that 50% clearly just needs to be educated. Such as providing links to actual studies on the long term effects of an mRNA vaccine on people. I think if you were to post some of those it would be very illuminating. 

    And you’re spot on, just like previous quarters when Apple crushed earnings, it’s only what Wall St. thinks will happen going forward that matters. 
    watto_cobra
  • Reply 11 of 79
    gbdocgbdoc Posts: 80member
    What are you people carping about? Help, help, the sky is falling!!! AAPL’s down 2.3% today!!!

    C’mon, get a grip. Today's “shocking” closing price is 11% higher than one month ago. Apple just reported record earnings. You all believe Apple’s a bad investment, and you’re ready to cash out before Apple goes down in flames? I hope you do, so I can buy some more at an even more favorable price.
    ArchStantonMacProwatto_cobra
  • Reply 12 of 79
    polymniapolymnia Posts: 1,054member
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    I'm long into AAPL since 2011. This dip happens more often than not after earnings. I'm happy to see the earning reaction dip is smaller than it usually is.

    I see nothing in this report to make me reconsider my long position in AAPL. Except that my Financial Advisor tells me I own too much AAPL. It's not my fault it has 20x-ed while the rest of my portfolio has plodded along at more or less average returns. Probably should rebalance my holdings one day, but my Spidey sense says today is not that day.
    applejakesradarthekatpscooter63ramanpfaffBeatsRadMaxMacProwatto_cobra
  • Reply 13 of 79
    bloggerblogbloggerblog Posts: 2,078member
    polymnia said:
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    I'm long into AAPL since 2011. This dip happens more often than not after earnings. I'm happy to see the earning reaction dip is smaller than it usually is.

    I see nothing in this report to make me reconsider my long position in AAPL. Except that my Financial Advisor tells me I own too much AAPL. It's not my fault it has 20x-ed while the rest of my portfolio has plodded along at more or less average returns. Probably should rebalance my holdings one day, but my Spidey sense says today is not that day.
    Some of us since 1998 :D
    ramanpfaffmobirdBeatswatto_cobra
  • Reply 14 of 79
    polymnia said:
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    I'm long into AAPL since 2011. This dip happens more often than not after earnings. I'm happy to see the earning reaction dip is smaller than it usually is.

    I see nothing in this report to make me reconsider my long position in AAPL. Except that my Financial Advisor tells me I own too much AAPL. It's not my fault it has 20x-ed while the rest of my portfolio has plodded along at more or less average returns. Probably should rebalance my holdings one day, but my Spidey sense says today is not that day.
    Some of us since 1998 :D
    Or at least early 2009, only 50.5x here.
    Beatswatto_cobra
  • Reply 15 of 79
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    Why do you seem so angry? You know it doesn't make sense to blame the stock drop right after earnings on covid-19, right? It's almost like you used that as a convenient jumping off point to make some angry statements. Since you're really smart and good at judging people, I'm sure you know that the mRNA vaccine only confers partial immune response (spike proteins), thus giving the virus opportunities to evade this narrow barrier in order to create variants. Whereas people who get the virus naturally have a much much lower reinfection rate due to the broader immune response, and thus give the virus less opportunity to create variants. So, in reality, if you got vaccinated, you're part of the variant problem. The more you know.

    Anyway, I gave up on trying to make sense of AAPL fluctuations a long time ago; there's too much manipulation to be able to predict much.
    hexclockpscooter63fahlmanwilliamlondonmobirdmuthuk_vanalingamwatto_cobra
  • Reply 16 of 79
    22july201322july2013 Posts: 2,511member
    Aaaaaand stock tanks. Go figure.
    Of course you already know what I'm about to say. I'm just explaining it for the unwashed masses who don't.

    Stock prices have nothing to do with "news". They have to do with "expectations". If stock prices had anything to do with news then everyone could become rich by investing in the stocks that are expected to go up. Before news is delivered, people already have expectations.

    If people expected more from Apple than this news delivered, that would explain why it went down.

    gatorguy
  • Reply 17 of 79
    one9deuce said:
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    Well, that 50% clearly just needs to be educated. Such as providing links to actual studies on the long term effects of an mRNA vaccine on people. I think if you were to post some of those it would be very illuminating. 

    And you’re spot on, just like previous quarters when Apple crushed earnings, it’s only what Wall St. thinks will happen going forward that matters. 
    Well, if you go to the VAERS website* right now and compare vaccine deaths, most vaccine deaths range from a handful, to a dozen, to a couple hundred at most. Covid comes in over 6,000. Of course, not all of these are verified, but evidence suggests that most of the VAERS inputs are from medical providers. Keep in mind, vaccine programs have been halted before for as little as 25 deaths. We have >6,000 reported deaths now. And yet people see fit to continue this, even giving it to children, who have virtually no risk from covid. Incredibly cowardly, especially when you consider that over %90 of elderly (in the US at least) have already been vaccinated.


    one9deucemuthuk_vanalingam
  • Reply 18 of 79
    polymniapolymnia Posts: 1,054member
    polymnia said:
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    I'm long into AAPL since 2011. This dip happens more often than not after earnings. I'm happy to see the earning reaction dip is smaller than it usually is.

    I see nothing in this report to make me reconsider my long position in AAPL. Except that my Financial Advisor tells me I own too much AAPL. It's not my fault it has 20x-ed while the rest of my portfolio has plodded along at more or less average returns. Probably should rebalance my holdings one day, but my Spidey sense says today is not that day.
    Some of us since 1998 :D
    Or at least early 2009, only 50.5x here.
    Out of curiosity, what does that do to your portfolio? Do you sell periodically to keep your speculative AAPL holdings within a particular % of your portfolio? I haven’t sold yet, but my advisor has brought it up. 
  • Reply 19 of 79
    M68000M68000 Posts: 367member
    lkrupp said:
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    As always, Wall Street doesn’t care about what you did today, it’s about what it thinks you will do in the future. And the Covid-19 delta variant has thrown a monkey wrench into the financial crystal ball, all because 50% of the population are dumb, ignorant morons. There’s also a study out that reveals 1-in-5 believe the vaccines contain microchips. That means 20% of the population are certified idiots.
    Hey hotshot,  you do know that these “vaccines” are experimental and rushed out to the public with no data on long term side effects.   Do you think 50% of the population are morons because they are concerned about such things?  They dare to question about rushing to use such things instead of not even thinking about it?  That makes them morons??  2 of these so called vaccines are not even real vaccines.  There are a number of doctors who have gone public about their concerns and what they have seen going on.  I guess they are morons too?   Sadly,  there is however data on bad reactions and lingering problems after getting these vaccines.




    edited July 27 patchythepiratewilliamlondonBeatsmuthuk_vanalingamequality72521
  • Reply 20 of 79
    JapheyJaphey Posts: 843member
    fallenjt said:
    And AAPL after hour trading drops over 1%. What kind of WS bullshit is that?
    Buy the rumor, sell the news. Are you new?
    sunman42netrox
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