Tag: iPhone sales

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 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 ...
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Apple Buoys Wall Street, Keeping Doubts on Future Growth at Bay
7May By adminNo Comments
Technology

Apple Buoys Wall Street, Keeping Doubts on Future Growth at Bay

[ad_1] Apple Inc. rallied Friday after an iPhone rebound helped quarterly earnings beat estimates, even as overall sales at the world's most valuable company remain in decline.The results suggest that Apple is beginning to recover from a slump that's plagued both the computer and smartphone industries. It was a particular relief for investors after Qualcomm Inc., a key supplier, raised fresh concerns about phone demand earlier this week. Apple's sales in China — a weak spot for other tech companies — also came in a bit better than feared. As expected, Apple announced plans for $90 billion in stock repurchases — the same as last year's plan. The company also raised its quarterly dividend 4% to 24 cents a share. The shares jumped 4.7% to $173.57, the biggest single-day increase since Nov....
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Apple Sees Biggest Rally of the Year After Sales Top Estimates
6May By adminNo Comments
Technology

Apple Sees Biggest Rally of the Year After Sales Top Estimates

[ad_1] Apple Inc. rallied Friday after reporting a rebound in iPhone sales last quarter, helping the world's most valuable company top earnings estimates and weather an industrywide downturn that has battered much of its product lineup.The shares jumped as much as 5.1% to $174.20, the biggest intraday gain since Nov. 30. They're now up 34% in 2023. Overall revenue amounted to $94.8 billion in the fiscal second quarter, Apple said Thursday, exceeding the $92.6 billion analysts predicted. Though the sales fell 2.5% in the period, the company had warned investors to expect a drop of roughly twice that. The results suggest that Apple is beginning to recover from a slump that's plagued both the computer and smartphone industries. It's a particular relief for investors after Qualcomm Inc., a ...
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Apple Q2: CEO Tim Cook on India, all-time record for Services and March quarter record for iPhone
5May By adminNo Comments
Technology

Apple Q2: CEO Tim Cook on India, all-time record for Services and March quarter record for iPhone

[ad_1] In its financial results for the fiscal 2023 second quarter ended April 1, 2023, Apple today reported a quarterly revenue of $94.8 billion, which was down 3 percent year over year. However, the quarterly earnings per diluted share of $1.52, is unchanged year over year.Tim Cook said, "Today, we're reporting revenue of $94.8 billion for the March quarter, which was better than our expectations. We set an all-time record for Services and a March quarter record for iPhone. We were particularly pleased with the performance we saw in emerging markets and achieved all-time records in Mexico, Indonesia, the Philippines, Saudi Arabia, Turkey and the UAE, as well as a number of March quarter records, including in Brazil, Malaysia and India." As for the highlights of the quarter, Cook said,...
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Apple Gets Its Mojo Back After a Shaky Start to 2023
11Mar By adminNo Comments
Technology

Apple Gets Its Mojo Back After a Shaky Start to 2023

[ad_1] After a shaky start to the year, Apple Inc.'s stock has once again reclaimed the mantle of the go-to investment in Big Tech, even winning support from Goldman Sachs Group Inc. after years in which the brokerage refrained from recommending the shares.The Cupertino, California-based giant has risen about 15% in 2023 and is on course for the biggest quarterly gain in more than a year. The stock is outperforming fellow mega-cap technology companies like Microsoft Corp., Alphabet Inc. and Amazon. com Inc. Concerns about an imminent drop in demand for Apple's pricey computers and iPhones, along with supply bottlenecks, have dissipated. Goldman this week turned bullish on the stock for the first time in almost six years, after being mostly on the sidelines as the stock more than quadru...
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Apple Blames Rotten Holiday Quarter on Supply Chain, Economy
4Feb By adminNo Comments
Technology

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...
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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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iPhone Sales, Zuckerberg’s Metaverse Bet, Spotify Pricing: Earnings to Watch
29Jan By adminNo Comments
Technology

iPhone Sales, Zuckerberg’s Metaverse Bet, Spotify Pricing: Earnings to Watch

[ad_1] Around 25% of S&P 500 companies have reported so far this earnings season, with almost half beating sales estimates and over 70% exceeding earnings consensus. The US economy grew faster than expected in the last quarter of 2022, but the mixed GDP report also showed consumer spending that was slower than forecast, suggesting that the burden of rising prices and higher borrowing costs will continue to pressure demand as this year progresses. Following the ongoing trend, investors will look to companies reporting earnings next week to provide further insight into their expectations surrounding the impact of worsening economic conditions on their target customers.Around 25% of S&P 500 companies have reported so far this earnings season, with almost half beating sales estima...
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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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