Apple’s purchase commitment increase points to strong hardware sales expectations

Apple’s most recent 10-Q filing with the Securities and Exchange Commission shows manufacturing purchase commitments of $55.1 billion as of December 31st, with $54.8 billion payable within 12 months, an increase of 16% year over year.Angela Palumbo for Barron’s:[This] is an indicator for hardware sales expectations, Evercore analyst Amit Daryanani wrote in a research note Tuesday.
Purchase commitments are an obligation the company has made to buy a certain number of items from a supp