Yesterday Apple unveiled its quarterly results for fiscal Q2 of 2022. The company delivered record revenues for the March quarter. Meanwhile, rival Qualcomm has announced that its competitor to the M1 chip will finally be available…but not until late 2023.
Apple delivers record revenue and the iPhone soars
Apple delivered another blockbuster quarter, exceeding most analysts’ expectations and falling solidly into the upper range of estimates for others. Notably, the iPhone is the only smartphone platform that saw a year over year increase in revenue. Other highlights of Apple’s announcement include:
- Q2 22 Revenue: $97.3 billion
- Q2 22 Profit: $25.0 billion
- iPhone: $50.57 billion
- iPad: $7.65 billion
- Mac: $10.44 billion
- Services: $19.82 billion
- Wearables, Home and Accessories: $8.81 billion
This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind
Tim Cook via Apple PR
In addition to this, Apple’s gross margin was 43.7%, up from 42.5% in the year-ago quarter. Apple’s board also authorised a dividend of $0.23 per undiluted share and a $90 billion extension to the firm’s share repurchase program.
M1 rival coming from Qualcomm
As first reported by Tom’s Hardware, chipmaker Qualcomm will be releasing its rival to Apple’s M1 chip at the end of 2023. The project began following the acquisition of Nuvia, a smaller chipmaker that specialised in ARM chip design. There have been questions however from investors as the release date of late 2023, appears to be something of a delay. When asked for comment here’s what Qualcomm had to say:
In an email to PCWorld, which asked whether the earnings call had surfaced a delay, a Qualcomm representative denied that there was any delay. The timing discussed by the Qualcomm CEO was consistent with the November investor day data, and “2023 refers to device launches,” which still stands (but it is now “late 2023”).
Tom’s Hardware
The AppleTLDR take
It’s a positive thing for the industry to see Qualcomm and others advance their chip design. And it’ll be a great challenge for Apple to rise to. But a rival to the M1 by the end of 2023?? At that point in time, Apple will be well into the move to its M2 platform and potentially even the early innings of a presumed M3 chip. And of course, Qualcomm will still have to contend with the limitations that currently exist with Windows running on ARM chips.