The Banking Executive Magazine - May 2021

Covid-19 Impact On Tech Companies The shift to remote working and learning led to the rise in Macs and Ipads sales, as it became essential for people, who were at their homes. According to MarketWatch’s re- search, Apple’s $9.03 billion in Mac revenue during the September quar- ter 2020 became a new company record. The Mac business had been stable flat from fiscal years 2017 to 2019, but rebounded sharply during the COVID-19 crisis, with each of the last three quarters sporting rev- enue growth of more than 20%. The iPad business saw its own revival, growing revenue by of 31% in each of the past three quarters, led by a 46% increase in the back-to-school September quarter. As stated by Tim Cook (CEO of Apple) Apple’s growth was driven by an all-time record in Services and a quarterly record for Wearables. the BANKING EXECUTIVE 26 ISSUE 149 MAY 2021