O'Grady's PowerPage

Tag: Finance

  • Apple announces “Tap to Pay on iPhone” feature due later this year

    Apple announces “Tap to Pay on iPhone” feature due later this year

    Apple on Tuesday announced plans to incorporate a new “Tap to Pay on iPhone” feature that will allow compatible iPhones to accept payments via Apple Pay, contactless credit and debit cards, and other digital wallets, with no additional hardware required.

    At present, merchants which accept contactless payments via the iPhone must rely on accessories such as the Square Reader, which can work wirelessly or connect to an iPhone’s Lightning connector or headphone jack. The feature will be compatible on iPhone models XS or later and payments will be secured via NFC technology.

    Stripe will be the first payment platform to offer “Tap to Pay on iPhone” to their business customers, including the Shopify Point of Sale app this spring, and additional payment platforms and apps will follow later this year, according to Apple. Apple Stores in the U.S. will also roll out the feature later this year. It appears that the feature will be exclusive to the U.S. at launch, with no other countries mentioned.

    Stay tuned for additional details as they become available.

    Via MacRumors and Apple

  • Apple posts $34.6 billion profit on $123.9 billion in revenues for Q1 2022

    Apple posts $34.6 billion profit on $123.9 billion in revenues for Q1 2022

    Apple on Tuesday released its first fiscal quarter earnings report, citing an all-time revenue record with revenues of $123.9 billion. In Q1 2021, Apple reported EPS of US$1.68 on revenue of $111.4 billion, the first time the company topped $100 billion in revenue during a single quarter.

    The quarterly report reflect a a $34.6 billion profit.

    In a statement, Apple CEO Tim Cook said, “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

    Apple CFO Luca Maestri added, “The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices. These record operating results allowed us to return nearly $27 billion to our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

    Apple stopped offering guidance on future expectations early in the Coronavirus pandemic. The company still won’t offer any idea of what it expects for the second quarter of 2022.

    Stay tuned for additional details as they become available.

    Via The Mac Observer

  • Microsoft announces $68.7 billion acquisition of Activision Blizzard

    Microsoft announces $68.7 billion acquisition of Activision Blizzard

    Because $68.7 billion forms a pretty enormous gaming empire.

    Microsoft on Tuesday announced its acquisition of Activision Blizzard for US$95 per share, bringing the total valuation to US$68.7 billion, on Tuesday. The deal includes iconic franchises from the Activision, Blizzard and King studios such as “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush.”

    The deal, when complete, would make Microsoft the third-largest gaming company in the world, by revenue, with only Sony and Tencent ahead of them.

    The company has studios around the word with nearly 10,000 employees. In addition to the above franchises it includes global eSports activities through Major League Gaming.

    Bobby Kotick will remain CEO of Activision Blizzard and will report to Phil Spencer, CEO of Microsoft Gaming. Satya Nadella, chairman and CEO of Microsoft, offered the following:

    Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms. We’re investing deeply in world-class content, community and the cloud to usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive and accessible to all.

    Microsoft also announced that Activision Blizzard games will be included in the Xbox Game Pass subscription service, which offers a rotating catalog of games from a variety of publishers. The addition of Activision Blizzard’s nearly 400 million monthly active players in 190 countries and three billion-dollar franchises would bolster the service’s game lineup.

    The acquisition is subject to customary closing conditions, completion of regulatory review, and Activision Blizzard’s shareholder approval, and expected to close in fiscal year 2023. The transaction has been approved by the boards of directors of both Microsoft and Activision Blizzard.

    Stay tuned for additional details as they become available.

    Via The Mac Observer and Microsoft

  • Apple announces Q1 2022 earnings report for Thursday, January 27th

    Apple announces Q1 2022 earnings report for Thursday, January 27th

    Apple on Tuesday announced that the company will release its earnings report for Q1 2022 on Thursday, January 27. The report will be followed by a conference call with investors and analysts to offer more detail.

    This earnings release will cover the ever-important holiday shopping season for Apple. It will also cover the ongoing impacts of the chip shortage that is limiting iPhone and iPad availability, as well as the impacts of the COVID-19 pandemic. 

    Apple did not offer any official guidance for Q1 2022 given uncertainty prompted by both manufacturing disruptions and the COVID-19 pandemic. Still, Apple CEO Tim Cook has stated that the company expects “solid year-over-year revenue growth.” 

    Apple no longer reports iPhone, iPad, and Mac unit sales numbers, although it does offer a revenue breakdown by product category.

    Here’s what was reported for Q1 2021:

    • $65.60 billion: iPhone
    • $15.76 billion: Services
    • $8.68 billion: Mac
    • $12.97 billion: Wearables, home, and accessories
    • $8.44 billion: iPad

    Totals: $111.44 billion in revenue and profit of $28.76 billion

    The Q1 2022 call will be held at 2:00 p.m. PDT/5:00 p.m. EDT with Apple releasing its full earnings report 30 minutes before that. The call will include a question-and-answer section with Apple CEO Tim Cook and CFO Luca Maestri. 

    Stay tuned for additional details as they become available.

    Via 9to5Mac and investor.apple.com

  • Apple launches Mac upgrade program, allows for some businesses to upgrade their Macs every 90 days through CIT financing

    Apple launches Mac upgrade program, allows for some businesses to upgrade their Macs every 90 days through CIT financing

    If your business is looking to upgrade its Macs a bit more often, this might be for you.

    Apple has recently launched a new program via its business portal that allow for Mac upgrades every 90 days with financing through a certified third party. Through CIT, businesses can get a base model ($999) Macbook Air for $30/month with the option to upgrade it in three months if a new model comes out.

    Although Apple currently offers multiple financing options for business from its own Apple Financial Services division, the new offering through CIT seems to offer a genuine Mac upgrade program for the first time in Apple history.

    The program was first spotted by Max Weinbach on Twitter, who offered the following screenshot:

    As mentioned earlier, business customers can return or swap their Macs after three months.

    CIT’s fine print says that the financing is 3 percent of the total cost, so as you add upgrades to your Mac, the monthly cost would change slightly. According to CIT’s website, you apply for financing through them, sign paperwork, CIT issues a purchase order to Apple, and then your product is purchased. 

    Stay tuned for additional details as they become available.

    Via 9to5Mac and @MaxWeinbach