One big question mark surrounding Apple was how it was going to be affected by the tragic Japanese earthquake.
Right out the gate on the earnings Q&A, COO Tim Cook addressed the issue, saying it wouldn’t have material impact on Apple’s supply chain.
Here’s our notes on what Cook said:
Japan in general. This is an incredible tragedy and our hearts go out to everyone involved. Apple has many strong ties to people in Japan, very saddened, and have taken various actions to help. Some revenue income in Q2, but not material to consolidated results. Believe revs will be ~$200mm less in Q3. Regarding supply chain, as a result of teamwork and resilience, did not have any supply or cost impact in Q2, and currently do not expect any material supply or cost impact in Q3. Working around the clock, contingency plans. Incredible resilience that I’ve never seen before. Do need to caution everyone that the situation remains unpredictable.
For more coverage of Apple’s earnings call, click here →
Business Insider Emails & Alerts
Site highlights each day to your inbox.