Apple has posted record quarterly profits, especially in the first quarter of the fiscal year, which includes the holiday season. In the first quarter of 2022, Apple posted its highest revenue in its history. Driven by sales of the iPhone 13 series and the continued growth of its services, Apple posted revenue of $123.9 billion with earnings per share of $2.10, easily beating Wall Street expectations of $118.66 billion and $1.89, respectively.
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The iPhone was the company's top-selling device for the quarter, which is no surprise given that it was the holiday season and the first full quarter of availability for the iPhone 13, 13 mini, 13 Pro, and 13 Pro Max. The iPhone unit brought in $71.63 billion, up 9% from the year-ago quarter.
All other Apple products were also up, with the exception of the iPad, which was down 14 percent and was impacted by supply constraints. The Mac was up 25 percent, services were up 24 percent and wearables were up 13 percent.
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2022 is expected to be a busy year for Apple in terms of new product releases. The company is rumored to be preparing a new 5G-enabled iPhone SE for next month. According to Bloomberg ’s Mark Gurman , an updated iPad Air and potentially a refreshed Mac lineup, such as a Mac mini or iMac with the M1 Pro chip that debuted in the 2021 MacBook Pro, could also be released in the first half of the year. Just yesterday, Bloomberg also revealed that Apple could soon launch a Square-like service that would allow iPhone owners to accept contactless payments without the need for additional hardware.
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Looking further into 2022, the company is also rumored to be working on a new Mac Pro powered by its own chip. And following on from the AirPods that launched last year, next-generation AirPods Pro headphones are also expected in the coming months alongside a redesigned iPad Pro and the usual iPhone refresh when the fall rolls around.
However, uncertainty surrounds the company's long-awaited mixed reality headset, which would be Apple's first major product in a new category since the Apple Watch in 2015. The latest reports suggest that the VR/AR device may not be released until 2023.
