Today Apple released its earning results for the second quarter of 2020. Apple did not provide guidance for the third quarter due to the current economic instability. Apple CFO Luca Maestri provided information for investors, offering insight into how Apple expects the ongoing pandemic crisis to affect sales.
Maestri said that it expects year-over-year performance for iPhone and the Apple Watch to suffer, while the iPad and Mac to increase.
Tim Cook said Apple sees iPad and Mac revenues improving due to all the customers who are learning at home and working remotely at the same time.
Cook also said, Apple saw major declines in March and early April as lockdown orders went out. The second half of April saw an increase, with stimulus programs, new product releases and the fact that consumers expect the pandemic to go on for a little longer, stocking up on products and supplies to work from home.
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