Apple reports $64 billion in revenues, $14.1 billion profit, for Q4 2019 earnings statement

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Date: Thursday, October 31st, 2019, 03:34
Category: Apple, Apple Card, Business, Finance, iPad, iPhone, News, retail, Wearables

Apple on Wednesday submitted its fiscal fourth quarter results, complete with record revenues of $64 billion and a profit of $14.1 billion for the quarter.

“We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad,” Apple CEO Tim Cook said in a statement. “With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store.”

Apple CFO Luca Maestri cited the company’s operating cash flow of $19.9 billion, Apple having returned “over $21 billion to shareholders, including almost $18 billion in share repurchases and $3.5 billion in dividends and equivalents, as we continue on our path to reaching a net cash neutral position over time.”

While Apple didn’t cite specific unit sales for specific products, it reported earnings for the following categories:

  • $33.36 billion: iPhone
  • $12.5 billion: Services
  • $6.99 billion: Mac
  • $6.52 billion: Wearables, Home, and Accessories
  • $4.66 billion: iPad

The earnings also include new products such as the Apple Card, which debuted in the past month.

As always, stay tuned for additional details as they become available.

Via The Mac Observer and 9to5Mac

Apple confirms that 2019 Mac Pro will be built in Austin, Texas

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Date: Tuesday, September 24th, 2019, 03:04
Category: Apple, Hardware, Mac Pro, News, Uncategorized

The 2019 Mac Pro will be made in America.

Austin, Texas, to be specific.

An Apple press release issue on Monday stated that the upcoming desktop will indeed be made in the longhorn state. This is the same facility that manufactured the 2013 Mac Pro. The components will be designed and shipped by over a dozen American companies across Arizona, Maine, New Mexico, New York, Oregon, Pennsylvania, Texas and Vermont.

Per Apple CEO Tim Cook:

The Mac Pro is Apple’s most powerful computer ever and we’re proud to be building it in Austin. We thank the administration for their support enabling this opportunity. We believe deeply in the power of American innovation. That’s why every Apple product is designed and engineered in the US, and made up of parts from 36 states, supporting 450,000 jobs with US suppliers, and we’re going to continue growing here.

Additionally, Apple is on track to invest US$350 billion in the United States economy by 2023.

Stay tuned for additional details as they become available.

Via The Mac Observer and Apple

Apple appears ready to absorb tariff costs for the short term

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Date: Tuesday, September 3rd, 2019, 03:18
Category: AirPods, Apple, Apple TV, Apple Watch, Finance, HomePod, iMac, iMac Pro, iPad, iPad Air, iPad mini, iPad Pro, iPhone, iPod Touch, Mac Desktop, Mac mini, Mac Pro, MacBook, MacBook Air, MacBook Pro, News, retail, Samsung

With the tariffs on assorted products from China having kicked in on September 1st, JPMorgan has estimate that Chinese tariffs could cost the average $1,000 a year.

The tariff applies to a huge range of products from milk to sports equipment, with many Apple products hit…

A spokesperson for the National Retail Federation stated that the tariffs will raise prices for American families and hurt the economy:

“We’re talking about the potential for millions of lost jobs, less investment, slower GDP growth, increased unemployment, higher prices. This is a perfect storm.”

Tariffs took effect yesterday on the following Apple products:

  • Desktop Macs
  • Apple Watch
  • AirPods and all wireless Beats headphones
  • HomePod

Apple has managed to escape a tariff on the iPhone for nw, so the first round of sales from the 2019 model iPhones will be tariff-free. A 15 percent tariff would apply to the following Apple products from December 15th on:

  • iPhone
  • iPad
  • MacBook/Air/Pro
  • iPod touch
  • Apple TV
  • Apple Pro Display XDR
  • Keyboards
  • Wired headphones

President Donald Trump initially said that Apple CEO Tim Cook had made a “compelling argument” that the tariffs would hurt Apple in its competition with Samsung, although reprieves from the tariffs were not made permanent.

Analysts such as the ever-reliable Ming-Chi Kuo expressed the idea that Apple will absorb the tariffs for now:

“Kuo writes that Apple has likely made ‘proper preparations’ for such a tariff, and he predicts that Apple will ‘absorb most of the additional costs’ in the mid-short term. Thus, Kuo believes that ‘prices of hardware products and shipment forecasts for the U.S. market will remain unchanged’ despite the tariff.”

That will, however, come at a cost to Apple’s bottom line. Back when the December tariff was set to be 10 percent rather than 15 percent, it was estimated that AAPL earnings would be cut by 4 percent. That impact will now be worse.

Stay tuned for additional details as they become available.

Via 9to5Mac and CBS

Apple, Girls Who Code, team up to work together on Everyone Can Code Swift Curriculum

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Date: Wednesday, August 21st, 2019, 03:57
Category: Apple, Developer, Education, iPad, News, Software, Swift

Apple’s Everyone Can Code initiative has been picked up by the Girls Who Code non-profit, which announced that it is collaborating with Apple to implement the Everyone Can Code Swift curriculum into its clubs this fall.

The Girls Who Code organization is designed to “inspire, educate, and equip girls with the computing skills to pursue 21st century opportunities.” The group holds numerous clubs around the world, and targets all age groups.

Specifically, Apple’s Everyone Can Code curriculum will be offered to girls from 6th grade through 12th grade starting this fall.

Apple has described the Everyone Can Code program as follows:

“We created a comprehensive Everyone Can Code curriculum to help you teach coding to students from kindergarten to college. With teacher guides and lessons, you can introduce the basics on iPad, then advance to building real apps on Mac. So whether your students are first-time coders or aspiring app developers, you’ll have all the tools you need to teach coding in your classroom.”

Apple CEO Tim Cook touted the new partnership as such:

“A more diverse future begins with opportunities for everyone. We’re excited to work with Girls Who Code, empowering girls across the US to be the tech leaders of tomorrow.”

Via 9to5Mac, Girls Who Code, and Twitter

Trump says he and Apple CEO Tim Cook discussed tariffs on Friday evening

Posted by:
Date: Monday, August 19th, 2019, 03:12
Category: Apple, Finance, iPhone, Legal, News, retail, Samsung

President Donald Trump stated that he spoke with Apple CEO Tim Cook about tariffs as well as South Korean competitor Samsung.

Trump stated that Cook made a “good case” as to how it would be difficult for Apple to pay tariffs, especially when Samsung does not face this obstacle given how much of its manufacturing takes place in South Korea.

“I thought he made a very compelling argument,” Trump told reporters on Sunday. The president said he had dinner with Cook on Friday evening.

Trump has presently ordered 10 percent tariffs on an additional $300 billion in goods imported from China. All of the tariffs were scheduled to go into effect on September 1st, but Trump has delayed some of the import duties until December 15th given concerns as to how they might impact the holiday shopping season.

“It’s tough for Apple to pay tariffs if it’s competing with a very good company that’s not,” Trump said.

From its end, Apple is expected to release its next-gen iPhone models in December.

Stay tuned for additional details as they become available.

Via CNBC

Apple announces Q3 2019 revenue of $53.8 billion, net quarterly profit of $10 billion

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Date: Wednesday, July 31st, 2019, 03:09
Category: Apple, Business, Finance, iPad, iPhone, News, retail, Wearables

Apple announced its Q3 2019 numbers today, citing $53.8 billion in revenue, its services division reaching a new high.

The revenues are up one percent year-on-year from the same quarter in 2018, which saw revenue of $53.3 billion.

“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Apple CEO Tim Cook. “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

Apple’s revenue derived from iPhone sales for the quarter is $26 billion, down from $29.9 billion for the quarter last year, though due to Apple’s change in reporting to no longer report units shipped. It is unclear if it is from a change in shipment quantities or from an altered average selling price. The iPad earned $5 billion, up from $4.74 billion a year ago, while Mac revenue of $5.8 billion is up from $5.3 billion seen in quarter three 2018. 

The company’s “Wearable, Home, and Accessories” category reported net sales of $5.2 billion, up from $3.7 billion for Q3 2018. Services grew to $11.5 billion in revenue, up from $9.6 billion one year ago.

Apple has forecast revenues between $61 billion and $64 billion, with a gross margin between 37.5 percent and 38.5 percent. Operating expenses for the period are anticipated to be between $8.7 billion and $8.8 billion.

Stay tuned for additional details as they become available.

Via AppleInsider and MacRumors

Apple Design Chief to leave Apple, start new design company with Apple as a primary client

Posted by:
Date: Friday, June 28th, 2019, 03:36
Category: Apple, Apple Watch, Hardware, iMac, iPhone, News, Wearables

Jony Ive is moving on from Apple.

Apple announced on Thursday that Ive is leaving to start his own design firm. While Apple will function as one of Ive’s “primary clients, ” he’ll be able to handle work for other firms while continuing to design for the Cupertino company.

In a statement, Apple CEO Tim Cook said that he is looking forward to working with Ive “long into the future.” 

“Jony is a singular figure in the design world and his role in Apple’s revival cannot be overstated, from 1998’s groundbreaking iMac to the iPhone and the unprecedented ambition of Apple Park, where recently he has been putting so much of his energy and care,” said Tim Cook, Apple’s CEO. “Apple will continue to benefit from Jony’s talents by working directly with him on exclusive projects, and through the ongoing work of the brilliant and passionate design team he has built. After so many years working closely together, I’m happy that our relationship continues to evolve and I look forward to working with Jony long into the future.”

Design team leaders Evans Hankey and Alan Dye, who are Apple’s vice presidents of Industrial Design and Human Interface Design, respectively, will now report to Jeff Williams, Apple’s Chief Operating Officer. 

Williams has overseen the development of the Apple Watch since its inception, and following Ive’s departure, will spend more of his time working with the design team. 

Ive offered the following comments regarding his departure:

“After nearly 30 years and countless projects, I am most proud of the lasting work we have done to create a design team, process and culture at Apple that is without peer. Today it is stronger, more vibrant and more talented than at any point in Apple’s history,” said Ive. “The team will certainly thrive under the excellent leadership of Evans, Alan and Jeff, who have been among my closest collaborators. I have the utmost confidence in my designer colleagues at Apple, who remain my closest friends, and I look forward to working with them for many years to come.”

There’s no word as to exactly when Ive will depart Apple. In an interview with The Financial Times, Ive said his new company, created in partnership with Marc Newson, is called LoveFrom. 

Apple will function as LoveFrom’s first client, the company stating that Ive will remain “very involved” for “many, many years to come.”

Stay tuned for additional details as they become available.

Via MacRumors, Apple, and Financial Times

Apple unveils macOS 10.15 Catalina, highlights how iTunes will be discontinued and split into three core applications

Posted by:
Date: Tuesday, June 4th, 2019, 03:34
Category: Apple, Apple Music, Apple Pencil, Apple TV, Developer, iOS, iPad, iTunes, iTunes Music Store, iTunes Store, Mac, macOS, News, photos, security, Siri, Software, WWDC

Over at WWDC, Apple dropped the hammer, revealing both details as to macOS 10.15 Catalina as well as the fact that the “future of iTunes” means that iTunes’ core functions will be divided into three apps: Apple Music, Apple podcasts, and Apple TV. As such the traditional iTunes app will be discontinued in macOS 10.15 Catalina.

In turn, the company has stated that the apps will “greatly simplify and improve” the way that users discover media on the Mac. 

To start, Apple Music will sync with your Apple Music account and provide full access to music streaming, playlists, music videos, Beats1 radio stations, downloaded songs, and more. The iTunes Music store will remain alive, located in the Apple Music app, for those users who still prefer to own their music. 

The Apple TV App will essentially behave as it does under tvOS and iOS, allowing users to sync Up Next lists across devices and easily access favorite shows. For its end, Apple Podcasts will offer more than 700,000 shows in its library and sync your content across devices. 

Certain features previously seen in iTunes will be migrated elsewhere on macOS, like iPhone syncing and device storage management now located in Finder. 

Apple also announced its Sidecar feature for Catalina, allowing an iPad to be used as an extended display for their Mac. This allows users to use an Apple Pencil, or other stylus, to draw on their iPad when desired.

Catalina will also gain an accessibility feature called Voice Control, which lets users control their Mac entirely with their voice. This is aimed at anyone who can’t operate traditional input devices, and uses Siri speech recognition technology. 

Other updates will include improved security, Screen Time on macOS, and improvements to apps such as Photos, Safari, Mail, Notes, and Reminders.

macOS Catalina is available to Apple Developer Program members from today, and a public beta program will launch later in June. A full public launch will follow in the fall.

Stay tuned for additional details as they become available.

Via MacRumors

Apple posts $58 billion revenues for Q2 2019 financial results, $11.5 billion profit, down 5% from Q2 2018

Posted by:
Date: Wednesday, May 1st, 2019, 03:14
Category: Apple, Finance

Apple on Tuesday announced the results for its second fiscal quarter of 2019. The company reported revenues of $58 billion for the quarter, which was down 5 percent from a year ago.

Apple also highlighted Services revenues of $11.5 billion, and announced a $75 billion stock repurchase program.

“Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record,” Apple CEO Tim Cook said in a statement. “We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services. We’re looking forward to sharing more with developers and customers at Apple’s 30th annual Worldwide Developers Conference in June.”

“We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business,” Apple CFO Luca Maestri said. “We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”

Stay tuned for additional details as they become available.

Via The Mac Observer

iPhone sales see boost in Chinese marketplace following price drops

Posted by:
Date: Monday, February 4th, 2019, 03:00
Category: Finance, iPhone, News, retail

When in doubt, drop the price a bit.

This tactic seems to be working, according to online retailers Suning and Tmal, who’ve noted improved iPhone sales numbers in the Chinese marketplace following Apple’s price reductions on the handsets.

Suning saw sales of Apple products rise 83 percent between Jan. 11 — when it instituted iPhone price cuts — and Jan. 30. The iPhone 8 and XR were said to be the most popular models.

(more…)