Apple reports higher sales as China reopens after COVID-19

REUTERS: Apple Inc reported sales and profits that beat Wall Street expectations on Thursday , with Chief Executive Officer Tim Cook saying China sales were"headed in the right direction" as that country reopens from the novel coronavirus.

Apple saw China sales of US$9.46 billion, down less than a US$1 billion from a year ago, a potential sign of how the company will fare as other markets emerge from lockdowns. The quarter quickly changed when the virus spread in China, hitting Apple's supply chain and sales there, and then hit the rest of the world as Apple's stores and contract factories came back online. Apple broke with its usual practice of providing an estimated range of sales for the current quarter.

Apple reopened its stores in China in mid-March and factories resumed production - but by that time, the pandemic had spread to Europe and the rest of the world, which have left Apple stores outside mainland China, Hong Kong, Taiwan and South Korea shuttered. "We're clearly not immune to the macreconomic environment - I'm not sure hardly anybody is immune at this point," Cook told Reuters."We're primarily focused on doing what we can to help the situation that the world is in, and we'll let the economy take care of itself. As compared to the last part of March and the beginning of April, we've seen a better second half of April.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Help wanted: Jobless China workers await relief as COVID-19 hits economyLife is never easy for China's nearly 300 million migrant workers, but with the coronavirus zapping jobs at a historic clip, unemployed factory ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

COVID-19: Pompeo pushes China to provide access to Wuhan labsWASHINGTON: US Secretary of State Mike Pompeo on Wednesday (Apr 29) pushed China again to provide the world access to its virology labs in Wuhan, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Mainland China reports 22 new COVID-19 casesMainland China reported 22 new coronavirus cases for April 28, up from 6 reported a day earlier, putting its total number of COVID-19 infections ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China parliament sets key meeting for May as COVID-19 epidemic subsidesChina announced on Wednesday that its parliament will open a key annual session on May 22, signalling that Beijing sees the country returning to normal after being reduced to a near-standstill for months by the COVID-19 epidemic. During the gathering of the National People's Congress in the capital They were busy manipulating data
Source: YahooSG - 🏆 3. / 71 Read more »

China should encourage cloud tourism: China Daily columnistIn the article, the writer says that 'cloud visiting Dunhuang', a WeChat mini program taking one to Dunhuang's Mogao Caves, had registered 12 million person-time visits in two months.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Starbucks sees China comparable sales falling in current quarterREUTERS: Starbucks Corp said on Tuesday (Apr 28) it expects comparable sales in China in the current quarter to decline between 25 per cent and 35 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »