Apple CEO Tim Cook says company saw an 'uptick across the board' in late April
on Thursday, company executives didn't provide financial guidance for the quarter ending in June.
"If you look at what happened in China, we were having a really good January, the lockdown started there toward the end of January, as you know. February we saw steep decline in demand. We closed our stores in February. As the lockdown completed in mid-February, towards the second half of February, we began to open stores," Cook said.
"The real thing for the rest of the world happened in March when the shelter in place orders went in and the work from home began. For those two, three-week period, at the end of the quarter we saw a sharp decline in demand," Cook said. "If you now step out until April and look at that, early April started like the end of March, but in the second half of April we've seen an uptick across the board.""A part of it is due to the stimulus programs taking effect in April.
However, sales of mobile devices like iPhones, headphones, and Apple Watches will likely take a hit, executives said. Maestri said that people were holding onto their older iPhones for longer. "While we did see a slight elongation in our replacement cycle towards the end of the quarter which we attribute to the widespread point of sale closures, our active installed base of iPhones has reached an all-time high."
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