Why was Apple left out of the Nasdaq despite its strong performance?

After Apple reported earnings, it rose 2% in after-hours trading and fell more than 4% when the company mentioned future challenges. Despite the better-than-expected performance on Wall Street, management warned that it could suffer up to $8 billion in losses in the second quarter due to supply chain shortages and the shutdown of factories in China.

According to the Financial Times (FT) on the 28th (local time), Apple’s chief financial officer Luca Maestri said, “The supply chain disruption due to COVID-19 could reduce sales by $4 billion to $8 billion this quarter.” said.

Apple is assembling iPhones in China, but iPhone assembly plants are shutting down one after another due to the lockdown caused by the coronavirus. As a result, Apple’s stock, which had risen 4.5% after the earnings release, initially rose 2% in after-hours trading, according to the company’s earnings report. After executives detailed the company’s future challenges, the stock has since been on a rollercoaster ride, down more than 4%.

Apple recorded the highest sales and net income in the first quarter of this year, an increase of 8.6% over the same period last year to $97.3 billion (about 123.8 trillion won) and an 8.6% increase in net profit to $25 billion (about 31.8 trillion won). . Apple’s good performance came amid adverse factors such as high inflation, supply chain disruption, China’s lockdown due to COVID-19, and the Ukraine war.

However, Maestri CFO said: “Semiconductor supply constraints are affecting our ability to meet customer demand for our products. I see it,” he said. In particular, he added that the setbacks caused by the COVID-19 in China and demand in China are also having an impact to some extent.

“I think we’re doing a reasonable job of navigating the current challenging environment,” said Chief Executive Officer Tim Cook. This is interpreted to highlight the fact that Apple, known for its supply chain sophistication, is preparing for a long-lasting uncertainty this year.

[이동인 기자]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]