Apple (NASDAQ: AAPL) announced 2022 Q2 financial results on May 28, 2022. According to the announcement, net sales, operating income and net income were up 9%, 9% and 6%, respectively (YoY, 3 months). In addition, diluted EPS was increased by 9%. Sales of Products were up 7%, while sales of services were up 17%. In this regard, the sales of services accounts for 20% of the net sales.
Looking by region, the Americas showed the highest growth of up 19%, followed by Europe of up 5%. Sales in the Asia Pacific, excluding Japan, China and the Americas, were down 7%.
As for the sales of each product, Mac showed the highest growth of up 15%, followed by wearable, home and accessories of up 12%. In recent years, Mac has been equipped with the Apple M1 chip developed in-house, and its performance has improved significantly. Macs are particularly popular with creators, and we believe that the high growth potential of sales of Mac were driven by such strong demands.
In the recent inflationary environment, Apple, which focuses on product sales, has been struggling, but the service segment shows steady growth. If the service segment continues to perform well, Apple’s earnings structure may be further stabilized.
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