Tag: Apple revenue

Apple’s China Slump Deepens Even as iPhone Sales Grow Again; “This Storm Will Pass, says expert
3Feb By adminNo Comments
Technology

Apple’s China Slump Deepens Even as iPhone Sales Grow Again; “This Storm Will Pass, says expert

[ad_1] Investors are digesting an earnings report that included stronger iPhone sales in the holiday quarter and a return to revenue growth following four straight declines. In fact, they are looking past a deepening slump in its China business. After sliding as low as $179.25 — Apple's worst intraday drop in a month — the stock briefly went positive. As of 11:45 a.m. in New York, it was down less than 1% at $186.03. Apple Inc. shares bounced back from a 4% decline Friday.But demand in China was weaker than feared, and Apple signaled to analysts that their iPhone projections for the current quarter may be overly optimistic. “I still think China's a big opportunity for Apple,” Gene Munster, Deepwater Asset Management co-founder and managing partner, said on Bloomberg Radio. “I think this...
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Apple’s Q1 earnings reveal record-breaking quarter in India; CEO Tim Cook reveals big milestone
2Feb By adminNo Comments
Technology

Apple’s Q1 earnings reveal record-breaking quarter in India; CEO Tim Cook reveals big milestone

[ad_1] 2023 was a great year for Apple with not only launches of existing products such as the iPhone 15 and Mac but also the introduction of new ones as well like the Vision Pro. The company ended the year on a high, and became the top smartphone maker in the world, dethroning Samsung. During the year, India became one of the key markets for the tech giant as it opened two official flagship stores in the country - Apple Saket in Delhi and Apple BKC in Mumbai. Apple's Q1 quarter earnings call also revealed that it broke the December quarter record in the country!Apple Q1 earnings call resultsDuring the Q1 earnings call, Apple CEO Tim Cook said that the company broke December quarter records in India, as well as a few other countries. Responding to an analyst questions, Cook multiple tim...
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Apple Hit With Second Downgrade This Week on iPhone Worries
5Jan By adminNo Comments
Technology

Apple Hit With Second Downgrade This Week on iPhone Worries

[ad_1] Apple Inc. was already the least-loved big tech stock on Wall Street. Growing concerns over iPhone sales have now triggered a second downgrade this week, cementing analysts' cautious approach.Piper Sandler & Co.'s Harsh Kumar cut his Apple rating on Thursday, citing a weak macro environment in China that will dampen demand for iPhones.   “We are concerned about handset inventories,” Kumar said in a note, lowering his recommendation for Apple to neutral from overweight after holding a bullish view since March 2020. “Growth rates have peaked for unit sales,” he said. We are now on WhatsApp. Click to join.Kumar's downgrade follows a more bearish move by peers at Barclays Plc, where analysts led by Tim Long cut their rating to underweight on Tuesday.Coming into 2024, Apple was th...
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Apple leverages idea of switching to Bing to pry more money out of Google, Microsoft exec says
29Sep By adminNo Comments
Technology

Apple leverages idea of switching to Bing to pry more money out of Google, Microsoft exec says

[ad_1] Apple was never serious about replacing Google with Microsoft's Bing as the default search engine in Macs and iPhones, but kept the possibility open as a "bargaining chip'' to extract bigger payments from Google, a Microsoft executive testified Wednesday in the biggest U.S. antitrust trial in a quarter century.“It is no secret that Apple is making more money on Bing existing than Bing does,'' Mikhail Parakhin, Microsoft's chief of advertising and web services, said in U.S. District Court in Washington. The comment drew a laugh from the courtroom. Parakhin was describing Microsoft's years of futility trying to supplant Google on Apple devices. Analysts estimate Apple collects $15 billion to $20 billion a year in revenue-sharing payments from Google in return for giving its search ...
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Apple Again Dominates Smartphone Profit, Taking Record 85% Share
4Feb By adminNo Comments
Technology

Apple Again Dominates Smartphone Profit, Taking Record 85% Share

[ad_1] Apple Inc.'s iPhone set a new high for its share of profits from global smartphone sales in 2022, after navigating a dire year for the industry better than competitors. The Cupertino, California-based tech giant collected 85% of operating profit and 48% of revenue from smartphone sales over the course of the year, new Counterpoint Research estimates showed. Both were new peaks for the company, 15 years into the iPhone's time on the market, and the firm's flagship device also scored its biggest proportion of global smartphone shipments. The smartphone industry churns on notoriously thin margins for handset manufacturers — eliminating storied but uncompetitive brands like Nokia, BlackBerry, Palm and HTC over the years. Apple and, to a lesser extent, Samsung Electronics Co., a...
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Apple’s Historic Buyback Keeps Investors Captivated
30Nov By adminNo Comments
Technology

Apple’s Historic Buyback Keeps Investors Captivated

[ad_1] Apple Inc. has shelled out more than $550 bn buying back its own shares over the past decade, more than any other US company. Apple Inc. has shelled out more than $550 billion buying back its own shares over the past decade, more than any other US company, and the technology juggernaut shows no signs of slowing down.Even with the stock under pressure the past few days because of production delays for its newest handsets, Apple has fared better than other megacap tech companies in this year's bear market. Solid earnings and generous buybacks have become a central part of the investment thesis, making the stock more attractive during turbulent times. Shares fell 0.4% on Tuesday. “That's how they get the safe haven, the gold standard view from investors,” said Gene Munster, who co...
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Apple Taps Facebook Veteran as Information Chief After Departures
10Nov By adminNo Comments
Technology

Apple Taps Facebook Veteran as Information Chief After Departures

[ad_1] Apple has hired a startup founder and former Facebook executive to run its information systems group after departures in that department. Apple Inc. has hired a startup founder and former Facebook executive to run its information systems group after departures in that department, according to people with knowledge of the matter. Timothy Campos will lead the Information Systems and Technology department, better known as IS&T, which handles the infrastructure behind Apple's online services, customer support and website. Apple refers to the operation as its “nerve center” because it lets employees, suppliers and customers stay connected. The division reports to Chief Financial Officer Luca Maestri. Mary Demby, the current information chief, is retiring after this year, Bl...
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Apple Stock’s Safe-Haven Status at Risk as iPhone Headwinds Mount
9Nov By adminNo Comments
Technology

Apple Stock’s Safe-Haven Status at Risk as iPhone Headwinds Mount

[ad_1] Apple Inc.’s status as a relative haven in this year’s bear market is under threat amid growing concern that iPhone sales are weakening. Apple Inc.'s status as a relative haven in this year's bear market is under threat amid growing concern that iPhone sales are weakening, portending further declines for technology stocks more broadly. Over the weekend, the Cupertino, California-based company said Covid-related lockdowns in China would cause shipments of its newest premium handsets to be lower than previously expected. Bloomberg News also reported that due to weaker demand, Apple expects to produce at least 3 million fewer iPhone 14s this year than first anticipated. The stock rose 0.6% on Tuesday, bringing its year-to-date decline to 21%. The Nasdaq 100 Index is down 32%....
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Apple iPhone Is Lone Bright Spot in Gloomy Quarter for Smartphones
28Oct By adminNo Comments
Technology

Apple iPhone Is Lone Bright Spot in Gloomy Quarter for Smartphones

[ad_1] Apple Inc. was alone among the world’s top five smartphone vendors to register growth in the third quarter this year. Apple Inc. was alone among the world's top five smartphone vendors to register growth in the third quarter this year as the mobile market suffered a double-digit decline. Global leader Samsung Electronics Co. slumped 8% to 64 million units in the three months ended September, while Chinese vendors Oppo and Vivo were each down at least 20%, according to the latest data from Canalys and Counterpoint researchers. Weak demand in China, which Samsung called out as a major drag on its sales of phone components this week, has weighed on the industry this year. Xiaomi Corp. weathered the hit better than its compatriots because of its wider international presence, t...
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Apple Slips After iPhone and Services Revenue Comes in Light
28Oct By adminNo Comments
Technology

Apple Slips After iPhone and Services Revenue Comes in Light

[ad_1] Apple Inc. delivered just enough good news in its quarterly report to avoid the fate of most tech giants this earning season. Apple Inc. delivered just enough good news in its quarterly report Thursday to avoid the fate of most tech giants this earning season, when its peers have seen valuations plunge by hundreds of billions of dollars. Though sales of iPhones and services were softer than expected last quarter, Apple's revenue and profit both topped analysts' estimates. The company said that growth wouldn't be as strong during the current period, but investors found enough optimism to send the stock higher in late trading Thursday. That provided a sharp contrast with Alphabet Inc., Amazon. com Inc., Meta Platforms Inc., Microsoft Corp. and others, which all delivered glo...
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