Apple iPhone sales – pressnews

Apple sales lose ground, but iPhone growth strong

3Nov

By adminNo Comments

Technology

Apple sales lose ground, but iPhone growth strong

[ad_1] Apple on Thursday reported that sales fell for the fourth consecutive quarter when compared to the prior year, but profit rose on the back iPhones and services.The tech giant said it made a profit of $23 billion on revenue of $89.5 billion, which was down slightly from the same period last year. Apple chief executive Tim Cook said iPhone sales set a new record for its September quarter while money taken in from services hit an all-time high. The company brought in $43.8 billion from iPhone sales while its services unit selling products such as Apple Music and iCloud brought in $22.3 billion, up 16 percent from a year ago."We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup," Cook said in an earnings release.The iPhone ...

Apple’s $165 Billion Cash Hoard Creates M&A Mirages

[ad_1] Apple Inc.'s slowing growth and cash-rich balance sheet are again fueling speculation that the world's most valuable company should make a big acquisition.Entertainment giant Walt Disney Co. recently joined a long list of potential acquisition targets that over the years has grown to include Netflix Inc., Tesla Inc., Peloton Interactive Inc. and Sonos Inc. They all have one thing in common: Anyone betting that Apple would buy them has so far been sorely disappointed. “You're probably missing the value of the business if you think the key catalyst for investment is a major acquisition,” said Kevin Walkush, portfolio manager at Jensen Investment Management. “It's a low-probability bet.” Apple is famous for eschewing splashy acquisitions in contrast with peers like Microsoft Corp. a...

Apple Blames Rotten Holiday Quarter on Supply Chain, Economy

[ad_1] Apple Inc. reported its worst holiday performance in four years after supply snags and a softening economy hurt iPhone sales, exposing cracks in what has been one of tech's most resilient companies. Revenue fell 5.5% to $117.2 billion in the December quarter, Apple's biggest sales period of the year, coming in well short of the average Wall Street estimate of $121.1 billion. It was Apple's first quarterly decline since 2019 and the first time the company has missed analysts' holiday sales projections since 2015. Shares fell 3% during premarket trading in New York on Friday, the morning after Chief Executive Officer Tim Cook discussed a rebound in China, which is emerging from strict Covid-19 rules. He also said Apple's production problems have subside...