Business
Apple Offers Strong Guidance, Shaking Off Rising Memory Prices
Apple’s guidance for second-quarter revenue, gross margin, and operating income were well above Wall Street expectations. The only sour note was high operating expenses, driven by increased research and development.
The gross margin guide is particularly interesting, because it comes amid a memory shortage that is raising costs to device makers.
CEO Tim Cook said there would be some memory price impact in the second quarter, but it won’t be enough to severely impact gross margin.