Apple Released the 2021 Q4 Financial Statement
Apple Stock News: Apple announced its financial results for the fourth quarter of the fiscal year 2021, by ended September 25, 2021. Net sales for Q4 2021 hit a record $83.4 billion, which increased by 28.84% compared to Q4 2020. iPhone sales totaled $38.9 billion, taking 46.6% of total net sales. iPhone’s net sales increased 46,98% compared to Q4 2020. The sale of the new series of iPhone 13 introduced by September was a significant factor contributing to the strong growth of iPhone’s net sales.
Apple already encountered the supply chain problem with the materials shortage from its suppliers Texas Instruments (TXN) and Broadcom (AVGO). However, Apple continues to face the supply chain crisis now. Although manufacturing disruptions in Southeast Asia caused by the COVID-19 pandemic have improved. But chip shortages remain a key issue affecting Apple’s supply chain. Chip restriction has started to affect its iPhone and iPad lines in the fourth quarter. iPhone sales actually came in at $38.9 billion in the fourth quarter, below expectations of $41.5 billion, according to Refinitiv.
Specific Development Team for Collaboration Software with 1-Cisco
According to Yahoo Finance, Cisco Systems Inc created a specific development team to develop Webex collaboration software specifically for Apple’s products. Webex mainly develops video meeting and web meeting software to compete with Microsoft Corp’s Teams, Zoom Video, Slack for remote users.
Cisco unveiled a new version of Webex for the iPad on Tuesday. The specific team will continue to focus on improving technology to better integrate with Apple Ecosystem and create better collaboration.
Apple Stock News: 10 New Projects added to ‘Power for Impact’
According to MacRumors, Apple announced that it will add 10 new projects to its “Power for Impact” initiative, which aims to bring clean energy solutions to communities around the world. Apple will add that 175 of its suppliers are now committed to renewable energy.
Apple has also expanded the number of recycled materials it uses in its products to reduce the need for carbon-intensive mining. This includes recovered gold, cobalt, aluminum, rare earth elements, and other sources. In addition, Apple is also trying to reduce the carbon footprint of its latest products, the iPhone 13 Pro has a smaller carbon footprint of 11% compared to an iPhone 12 Pro, while the new 16.2-inch MacBook Pro has a smaller carbon footprint of 8% compared to previous models.