CEO Tim Cook says that Apple feels its supply chain rebounded well from the pandemic disruption, and that it isn't planning any dramatic shift from relying on partners in China.
APPLE. In this file photo taken on September 10, 2019 the apple logo is projected on a screen before the start of a product launch event at Apple's headquarters in Cupertino, California. Photo by Josh Edelson/AFP
"Despite COVID-19's unprecedented global impact, we're proud to report that Apple grew for the quarter, driven by an all-time record in services and a quarterly record for wearables," chief executive Tim Cook said in an earnings release. "Everyone knew that March would be rough for Apple, but given the effects of coronavirus on supply chains in China and demand everywhere, Apple's performance was pretty solid," said eMarketer analyst Yoram Wurmser.
"If you look at the shock to the supply chain that took place this quarter, for it to come back up so quickly really demonstrates that it's durable and resilient and so I feel good about where we are," Cook said.Apple was on pace for a record financial quarter before the pandemic derailed lives and economies, according to executives.
Meanwhile, Apple smartwatches with features such as heart-rate monitoring are being used in telemedicine, along with iPads, according to Cook. The pandemic"wreaked havoc" on the smartphone market during the first three months of this year, with overall shipments falling 13% to 272 million units, according to industry tracker Canalys.
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