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Apple's big quarter shows that smartphones aren't getting hit by weakening macroeconomic conditions

Key Points
  • Ahead of Apple's second-quarter earnings on Thursday, several analysts wondered if the iPhone maker would be an early sign of weakening consumer confidence in an inflationary environment.
  • Apple's earnings report on Thursday clearly said no.
  • "But right now, our main focus, frankly speaking, is on the supply side," Apple CEO Tim Cook said.
A customers holds the new green colour Apple iPhone 13 pro shortly after it went on sale inside the Apple Store on 5th Avenue in New York, March 18, 2022.
Mike Segar | Reuters

Ahead of Apple's second-quarter earnings on Thursday, several analysts wondered if the iPhone maker's results would show signs of weakening consumer confidence, especially among well-off shoppers.

Apple's numbers clearly said no.

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