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Rumors had suggested Apple would delay hiring and cut spending on select teams, but CEO Tim cooks wouldn’t describe it as a delay.
Apple’s 2023 Q3 Earnings records broken and show that the company continues to move forward despite economic pressures. Estimates had lowered Apple’s earnings and rumors had even suggested the company would slow recruitment and spending in some categories.
Instead, according to a report from CNBC, Apple continues to increase profits and Apple CEO Tim Cook is optimistic for the coming months. Increases in iPhone revenues and revenues from services prevent the company from seeing an overall decline comparable to that of other technology companies.
“We see inflation in our cost structure,” Cook said. “We see it in things like logistics and wages and certain silicone components and we’re still hiring, but we’re doing it on purpose.”
Cook’s comments were amplified during a call to one CNBC analyst, who suggested he wouldn’t call Apple’s personnel changes a “delay.”
Just got off the phone with Tim Cook. On hiring: He says Apple will be “deliberate” when hiring. But wouldn’t call it a delay.
— Steve Kovach (@stevekovach) July 28, 2022
The iPhone made $40.7 billion after growing 3% annually. The active install base also grew, thanks to an increase in Android switchers.
It seems that the rumors have missed the mark in terms of Apple’s internal staff changes. At least the company doesn’t seem to be at risk of having to shuffle resources.