Apple posts another record quarter to close out a record year

Apple posts another record quarter to close out a record year

But supply constraints drag on revenue.

Tim Cook (Apple)

Tim Cook (Apple)

Credit: Apple

Apple has posted yet another record quarter in 2021, closing out its best year ever with revenue of US$83.4 billion, up nearly 30 per cent year-over-year. Every category posted gains, though Cook said revenue was affected by supply constraints to the tune of $6 billion.

First the good news. Apple sold a ton of products in the quarter, which saw a week of iPhone 13 sales versus no iPhone 12 sales last year, as well as the iPad mini and ninth-gen iPad. Apple also announced the Apple Watch Series 7 in the quarter, though it didn't go on sale until October. Last week, Apple launched the new MacBook Pro, which is already backordered for weeks.

Here's how each category broke down, with the year-over-year percentage increase:

  • iPhone: $38.9 billion (47 per cent)
  • iPad: $8.3 billion (21 per cent)
  • Mac: $9.2 billion (two per cent)
  • Wearables: $8.8 billion (12 per cent)
  • Services: $18.3 billion (26 per cent)

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