Tim Cook said that “We are making deliberate decisions about where to invest our money, but we’re continuing to hire, but we’re just doing it in a very deliberate way.”
Apple CEO says it will continue to hire new employees in a more cautious manner
After Apple released its fiscal 2022 third-quarter earnings report, Apple CEO Tim Cook has been interviewed by the media, in which he responded to some rumors in the past period, such as reports that Apple has planned to slow down its hiring plan for next year and cut spending in some departments in response to potential economic recession impact.
In the third quarter of fiscal 2022, Apple’s revenue was $83 billion, an increase of only 2% year-on-year, but it still set a new record for the third quarter. Although revenue hit a record high, profits fell to $19.4 billion in the quarter, down from $21.7 billion in the previous quarter. As in the past, the iPhone business remained the backbone, with revenue of $40.67 billion. As Apple will release the iPhone 14 series in the next fiscal quarter, it will help ensure its revenue growth.
Apple recently launched a rare discount promotion in the Chinese market. Some analysts say that Apple is doing this to clear the inventory of the iPhone 13 series to make way for the upcoming iPhone 14 series. Of course, dealing with the recent decline in consumer market demand is also one of the reasons why many people speculate. Tim Cook also responded, saying that this series of discount promotions have nothing to do with clearing inventory.