AAPL Today

AAPL: 94.01

0.37
Stock Chart

Bloomberg is reporting that India has refused to grant Apple permission to sell used iPhones in the country, citing a telecommunications ministry official.

The U.S. company’s application has been turned down, the official said, asking to not be identified, citing official policy [whileApple declined to comment.

Apple had hoped that used iPhone sales would be a good way to get a foothold in a country where its market share is just 2%, and where 80% of phones cost less than $150. Its iPhone Upgrade Program in the United States gave the company a plentiful supply of used phones that it could have sold at much lower prices in India without sacrificing margin, which must have seemed like the perfect plan … 

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AAPL Yesterday

AAPL: 93.64

-0.10
Stock Chart

[UPDATE: Video below.]

As expected, Apple CEO Tim Cook this evening appeared on CNBC’s Mad Money with Jim Cramer to discuss the recent news surrounding the company’s second quarter earnings results. The company reported $50.6 billion in revenue and $10 billion in profits, but its stock was sent into spiral. Speaking to Cramer, however, Cook defended Apple’s future and called Wall Street’s response a “huge overreaction.”

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AAPL April 30

AAPL: 93.74

-1.09
Stock Chart

There was lots of news for Apple this week with the company’s Q2 2016 earnings representing some notable declines across the board despite reporting $50.6 billion in revenue and $10.5 billion in profit. But readers were more interested in the latest rumors and expectations for the upcoming iPhone 7 and Apple Watch 2, as well as some new “exclusive” Apple Music and iTunes releases and this week’s new apps and updates.

Head below for all the handy links to this week’s top stories and more.

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9to5toys 

AAPL April 28

AAPL: 94.83

-2.99
Stock Chart

Despite Apple’s $50 billion quarter with $10 billion in profit, the January to March period marked Apple’s first quarter in 13 years without growth including year-over-year iPhone sales declines for the first time. Apple set the expectations back in January, but its stock still took a beating after this week’s earnings report. Now activist investor Carl Icahn, who has been very noisy about what he thinks Apple should do in the past, tells CNBC he has sold his massive share of Apple stock. Icahn once owned nearly 1% of Apple’s shares, and publicizing that he’s out of the stock will likely influence other investors to follow.

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AAPL April 27

AAPL: 97.82

-6.53
Stock Chart

Following Apple’s earnings results last night, where it posted its first YOY quarterly revenue decline since 2003, AAPL has opened down more than 8% — the stock price is far below the $100 mark as morning trading begins. Apple reported revenue of $50 billion (compared against $58 billion in the year-ago quarter), on sales of 51.1 million iPhones, 10.2 million iPads and 4 million Macs.

The stock price fall means over 40 billion dollars of market cap value has been erased overnight. Market capitalization is the approximate value of the company, a multiple of the stock price and number of shares. The stock closed yesterday at $104.

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AAPL April 26

AAPL: 104.35

-0.73
Stock Chart

Apple just posted its official Q2 2016 earnings report and we’ve broken down how that compares to previous quarters. Next up on the schedule is Apple’s quarterly conference call with analysts where CEO Tim Cook and CFO Luca Maestri typically recap the numbers and field questions about Apple’s financial situation.

To recap the big numbers from today’s report, Apple counted $50.6b in revenue, $10.5b in profit, 51.1m iPhones sold, 10.2m iPads sold, and 4m Macs sold during the final three months of last year. Apple Watch numbers aren’t broken out at this point and instead included in the Other category with iPods, Apple TVs, and other accessories.

We’ll be tuned in to the call as it plays out, and update this post with up-to-the-minute details while highlighting major updates. The call is scheduled to kick off at 2 pm PT/5 pm ET so stick around.

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9to5google 

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