Apple: Tim Cook, CEO of Apple, gave his thoughts on the company’s earnings report for the third quarter in an interview with CNBC. Tim Cook mentioned that the availability of the iPhone 14 Pro and iPhone 14 Pro Max is limited while speaking about the demand for iPhones. Apple is working hard to stay up with the demand for its products.
It was the live Closing Bell section that was in charge of disseminating the information. It was reported that the iPhone 14 devices were simpler for users to purchase.
Tim Cooked stated about iPhone supplying
When asked by CNBC, Tim Cook stated, “We are now constrained on the 14 Pro and the 14 Pro Max, and we have been ever since the day that we debuted. Because of this, it should come as no surprise that we are actively pursuing supplies in that regard and making an effort to acquire as much supply as we possibly can in order to satisfy the need.”
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Apple’s Report for the Third Quarter and Its Efforts to Cut Costs
Cook also discussed the actions that have been done by the organization to reduce expenses. He made the following statements: “We have a plan to hire new people. As a result, we have reduced the number of new hires each week. And in order to save money, we are looking into investing in other commodities.” Cook’s statement gives the impression that Apple is able to cut costs throughout its supply chain. Because there is less demand in the market, the price of goods like processors has gone down, allowing it to make some savings. Revenue for Apple came in at $90.15 billion for the third quarter of 2022, representing an increase of 8% year on year. In spite of the fact that the iPhone 14 range was only available for sale for a total of eight days during that quarter, the iPhone was responsible for generating revenue of $42.6 billion.
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