Power On: The Economy Catches up to Apple

The transcript discusses Apple's vulnerability to economic factors like inflation and interest rates, and its expected flat third-quarter earnings compared to last year's growth. Analysts predict revenue around $82 billion, with significant contributions from iPhone sales and services. Despite impressive numbers, concerns about growth persist due to COVID-related shutdowns in China and the chip shortage. Apple plans to slow hiring and spending amid recession fears. However, the company has ambitious product plans for late 2022 and 2023, including new iPhones, Apple Watches, and a mixed reality headset.

What economic factors are affecting Apple's performance according to the text?

What revenue does Apple anticipate reporting for the third quarter?

What impact did the COVID-related shutdowns in China have on Apple's revenue?

How have Morgan Stanley and Wells Fargo responded to concerns about Apple's stock?

What are some of the new products Apple plans to release by the end of 2022 and into 2023?