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The iPad line introduced in $7.65 billion in income in Q2 2022, down year-over-year from 2021, and Apple attributes this to provide constraints fairly than lack of demand.
Through the quarterly Apple earnings name, Apple CEO Tim Prepare dinner commented on the decline in iPad income, mentioning that offer constraints have had an impact on gross sales. He asserted that demand for iPad, and particularly the brand new iPad Air 5 with M1 processor, was nonetheless robust.
In keeping with Prepare dinner, the set up base for the iPad is at an all-time excessive. Additionally, half of the purchasers shopping for an iPad have been first-time patrons of the machine.
Each different class Apple supplies information for had a rise in income general. Whereas Apple says provide chains have been at fault, different points might embrace decrease demand in tablets now that COVID lockdowns have ended or potential prospects being steered in direction of the Apple Silicon-powered Macs.
Apple guides that its third quarter will proceed to be an unknown and it is tough to offer steerage on account of quite a lot of elements. COVID continues to impression the provision chain, and the continued battle in Ukraine means no gross sales in Russia. It is not clear if iPad income will get better in Q3.