Certain card types through some banks (and all corporate cards) are not yet supported on Apple Pay

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With Apple’s launch of its new Apple Pay payments service in the US yesterday, it has now published a support document detailing supported card types from each of its initial banking partners. We already knew that MasterCard, Visa, and American Express cards would be supported initially through a growing list of banking partners, but the support document shows certain types of cards, like business and corporate cards, aren’t yet supported through some banks. Read more

Apple Pay already works abroad on supported NFC terminals w/ US-based cards

Following yesterday’s launch of Apple Pay through participating card issuers, banks and retailers in the US, some users have discovered that the payment service is also already being accepted through some retailers abroad. 9to5Mac readers report using Apple Pay loaded with a US-based credit card at retailers in Australia and Canada… Read more

“iPad has a great future,” said Cook: long-term more important than “90-day clicks”

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While yesterday’s iPad numbers don’t look great – down 12.5% year-on-year, the third successive quarter in which sales have fallen – Tim Cook remains upbeat about the product, stating that it “has a great future” and that its long-term prospects are more important than “individual 90-day clicks.”

Quartz‘s Dan Frommer pulled together some of the things Cook has to say about the device, and while you’d clearly expect Apple’s CEO to put the best possible spin on things, he makes some reasonable arguments …  Read more

AAPL out-performs most bullish analyst predictions with its record numbers

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Apple not only announced record profits for Q4 results and smashed through its own revenue guidance, but out-performed even the most bullish of analyst estimates with earnings of $42.123B. The highest analyst estimate in yesterday’s Fortune roundup was for $41.8B.

The consensus analyst expectation for earnings per share was $1.32, against the actual 20% climb to $1.42, aided by Apple’s stock buyback program, which now totals $68B of the $90B target announced by Apple …  Read more

Both MLB stadiums will accept Apple Pay at concession stands for 2014 World Series

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Forbes reports today that during the 2014 World Series (which starts tomorrow) two MLB stadiums will be accepting Apple Pay at concessions stands. Kansas City’s Kauffman Stadium and San Francisco’s AT&T Park will be the first professional sports stadiums to accept Apple’s new payment process.

MLB hasn’t clarified when the rest of the league’s stadiums will begin accepting Apple Pay. The hardware has apparently only been installed at the World Series stadiums so far.

There are also plans to implement Apple Pay in the MLB At the Ballpark app to allow users to purchase tickets using Touch ID in a future update, though there’s no timeline for when that feature will be available just yet.

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Tim Cook praises Apple’s growth and new products in letter to employees

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Following today’s release of Apple’s quarterly earnings report, Tim Cook has sent a letter to employees praising the company’s growth and the dedication of Apple employees to the development of new iPhones, iPads, and Retina iMac. Cook calls the iPhone 6 and 6 Plus launch the “most successful” in the history of the device.

Cook also talks about the Apple Pay launch and reiterates the points made during today’s earnings call, saying that the purpose of introducing a payment system was to ensure that customers have a “simple, secure and private way to pay.” He also commends the software development teams on the consistent cross-platform experience introduced in iOS 8 and OS X Yosemite.

Cook closes by saying that he will be traveling to Beijing to talk to employees in a meeting that will be recorded and posted the company’s internal website. Employees from across Apple will be able to submit questions beforehand to be asked during the Q&A session.

You can read the full letter below:

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Live blog: Apple’s Q4 2014 earnings call

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As we mentioned last month, Apple is scheduled to host its quarterly conference call today to discuss its earnings report from the fourth quarter of its fiscal year: this includes 39 million iPhones, 12.3 million iPads, 2.6 million iPods, and 5.5 million Macs. Apple already reported today that it earned $42.1 billion in revenue during its Q4 period.

This will quarterly conference call with analysts and investors will include the opening weekend of iPhone 6 and iPhone 6 Plus sales which included a record 10 million sales including 4 million units sold during the first 24 hours of pre-orders. It will also be the first call since Apple previewed the Apple Watch to the public, shipped iOS 8 and OS X Yosemite, and introduced new iPads and a Retina 5K iMac, although sales for those devices are not included in the previous quarter. Apple CEO Tim Cook and Apple CFO Luca Maestri will also likely mention Apple Pay, the company’s mobile payment service which launched for iPhone 6 and iPhone 6 Plus users earlier today.

Investors and analysts will have an opportunity to ask Tim Cook and company questions during the earnings call and we’ll be listening to bring you coverage starting at 5pm EST/ 2pm PST. Read more

Apple announces Q4 2014 revenue of $42.1b: 39m iPhones, 12.3m iPads, 5.5m Macs

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Apple today announced its Q4 2014 earnings results reporting that the company earned $42.1 billion in revenue and $8.5 billion in profit during the quarter.

“Apple® today announced financial results for its fiscal 2014 fourth quarter ended September 27, 2014. The Company posted quarterly revenue of $42.1 billion and quarterly net profit of $8.5 billion, or $1.42 per diluted share. These results compare to revenue of $37.5 billion and net profit of $7.5 billion, or $1.18 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 37 percent in the year-ago quarter. International sales accounted for 60 percent of the quarter’s revenue.”

In addition to reporting its earnings, Apple has disclosed sales numbers for its main revenue generators. The company sold:

  • iPhone: 39.272 million, up 16.2%
  • iPad: 12.316 million, down 12.5%
  • Mac: 5.52 million, up 20.7%
  • iPod: 2.62 million, down 25.1%
  • iTunes: $4.208 billion, up 8.2%
  • Accessories: $1.486 billion, up 12.7%

Totals:

  • Revenue: $42.123 billion, up 12.4%
  • EPS: $1.42 per share, up 20.3%

Apple CEO Tim Cook had the following to say regarding the results:

“Our fiscal 2014 was one for the record books, including the biggest iPhone launch ever with iPhone 6 and iPhone 6 Plus,” said Tim Cook, Apple’s CEO. “With amazing innovations in our new iPhones, iPads and Macs, as well as iOS 8 and OS X Yosemite, we are heading into the holidays with Apple’s strongest product lineup ever. We are also incredibly excited about Apple Watch and other great products and services in the pipeline for 2015.”

Apple CFO Luca Maestri added this:

“Our strong business performance drove EPS growth of 20 percent and a record $13.3 billion in cash flow from operations in the September quarter,” said Luca Maestri, Apple’s CFO. “We continued to execute aggressively against our capital return program, spending over $20 billion in the quarter and bringing cumulative returns to $94 billion.”

Apple’s stock price, which closed at %99.76 (up 2.14% today following the launch of Apple Pay) is up during after-hours trading as well crossing the $100 mark at certain points.

During Apple’s fourth quarter, the company shipped the iPhone 6 and iPhone 6 Plus to customers and closed on its deal to acquire Beats Electronics and Beats Music. During the previous earnings call with investors and analysts, Apple CFO Luca Maestri shared that the company will begin separately reporting earnings from Beats in 2015.

These numbers compare to last quarter’s results of $37.4 billion in revenue and sales of 35.2 million iPhones, 13.2 million iPads, and 4.4 million Macs. You can also compare today’s numbers to analyst expectations from before the announcement. Apple is holding a conference call today at 2 PM Pacific/5 PM Eastern time to discuss the quarter’s earnings, which we will be covering live. Cook and Maestri will likely share prepared remarks and then take a series of questions at the end from financial analysts.

For Q1 2015 Apple is providing guidance between $63.5 billion and $66.5 billion. The full Q4 earnings results release is below:

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Apple to require iOS apps and updates to use iOS 8 SDK and include 64-bit support from February 2015

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Apple has today notified developers about some upcoming rules regarding App Store submission, via its developer news portal. From 1st February 2015, newly-submitted apps and updates must be built against Apple’s iOS 8 SDK. This is not particularly surprising: Apple required similar adoption of the iOS 7 SDK last year.

In addition however, Apple will also require that all apps and updates include 64-bit support from that date too. Currently, developers can choose whether to submit only 32-bit apps or universal binaries. This will no longer be an option from February. Moving all apps to 64-bit will bring big performance and memory gains for newer devices (which include A7 or A8 SoC’s) as running the 32-bit apps necessitates loading a lot of additional resources into system memory.

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Chinese government apparently phishing iCloud account info with man-in-the-middle attack (Update: Apple confirms)

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Update: Apple is aware of the attack, via CNBC. As expected, Apple’s own servers were not compromised.

Although unconfirmed, GreatFire is reporting that Apple is now the subject of Chinese government hacking attempts. According to the report, the government is using the institutional firewall to redirect traffic directed at iCloud.com to a fake page that resembles the iCloud.com interface almost perfectly.

Like other phishing attacks, this page is pretending to be Apple’s portal but instead intercepts entered usernames and passwords for other means. Although some browsers in China are set up to warn users about these kind of man-in-the-middle attacks, many don’t and (assumedly) many citizens disregard the warnings as the site appears quite genuine otherwise.

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AAPL will announce record quarter, predict analysts, with earnings up 11.9%

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Analysts are predicting that Apple (AAPL) will announce record sales and earnings in today’s fiscal Q4 (calendar Q3) earnings call, reports Fortune.

I’ve got the collected fiscal Q4 estimates of 33 Apple analysts — 21 professionals and 12 amateurs. They are all to a man (and one woman) predicting record Q4 sales and earnings (up 7.1% and 11.9%, respectively).

The analysts also expect earnings per share to be up 12% year-on-year, to $1.32 …  Read more

Apple reportedly pushing to get Beats Music prices down to $5 per month

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A new report by Re/code gives some extra details about Apple’s future plans for its streaming service, Beats Music. A few weeks ago Apple was reportedly looking to push prices down, although specifics were not known at the time.

Today, Re/code says that Apple wants to cut prices in half, from $10 a month to $5 a month. This would be part of a relaunch of the Beats Music service — exactly what a ‘relaunch’ entails is not yet known. It is possible that Apple will disassociate the Beats brand from its streaming service.

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