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102.99

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Open 102.89
Volume 68,268,624
Day Range 104.11 - 102.60

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

ipad

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

tim-cook1

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

Live blog: Apple’s Q4 2014 earnings call

aapl

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

Q4

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

apple-q4

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

2011 MacBook Pro GPU complaints not going away as petition reaches 18k signatures

gpu

Long-standing complaints that the 2011 MacBook Pro suffered from a manufacturing fault resulting in GPU glitches and failures don’t appear to be going away, as an online petition calling for Apple to fix or replace affected machines reaches more than 18,000 signatures.

To:
Timothy D. Cook, Apple Inc
Craig Federighi (Apple Inc) (Apple Inc), Apple Inc

Replace or Fix All 2011 Macbook Pro with Graphics Failure

The petition notes the premium spent to buy Apple laptops, and says that Apple’s only response to date has been to ask owners to pay for an extremely expensive logic board replacement …  Read more

Analysts remain positive about AAPL following event, focused on iPhone and Apple Pay

aapl

While the relatively modest iPad updates might have led to a flurry of ‘Apple is doomed’ reports from analysts, an early roundup by Fortune suggests that the consensus view so far remains positive. Most are rating it a buy or overweight – meaning they expect it to outperform typical stocks – with the majority setting a target price in the $112-120 range …

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Morgan Stanley adds AAPL to Best Ideas list for investors, citing high iPhone 6/Plus margins

aapl

Morgan Stanley’s Katy Huberty has added AAPL to its Best Ideas list of investments, saying that increased margins from iPhone 6 sales see the stock “set for significant upside.”

While Credit Suisse had earlier suggested that margins on the iPhone 6 would be lower than that of the iPhone 5s and 5c, Huberty says that numerous sources are suggesting that more people this time are opting for the middle storage tier, thus pushing up both average selling price and margins …  Read more

Carl Icahn publishes open letter to Tim Cook, requests Apple increase buyback through tender offer (U: Apple statement)

Tim Cook

High-profile investor and Apple shareholder Carl Icahn has published an open letter to Apple CEO Tim Cook urging him to once again increase its share repurchase program for stock holders. Citing strong iPhone 6 sales and predicting the larger devices will help Apple gain marketshare from Android, Icahn is requesting Cook and Apple’s board make a tender offer to increase its current rate of share repurchases. Icahn said he thinks Apple remains “dramatically undervalued in today’s market,” but didn’t suggest a specific number for the increased buybacks: Read more

Europe’s best-selling computer magazine Bild gets Apple PR accreditation revoked after #bendgate video

Computer Bild, Europe’s best-selling computer magazine, has had its PR accreditation pulled after posting a video of one of its journalists bending an iPhone 6 Plus.

The german PR department of the company reacts in a disturbing way: Instead of answering the questions about why the iPhone 6 Plus is so sensitive, a manager called Computer Bild and told us, that Computer Bild will not get any testing devices and no invites to official events any more …

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Apple’s Irish tax arrangements explained as company denies special treatment

appleireland

Two days after the Financial Times reported that the European Commission was about to come down hard on Apple’s alleged deal with the Irish government to reduce its tax liabilities, Apple has made a statement to Business Insider claiming that it has received “no selective treatment.”

Apple is proud of its long history in Ireland and the 4,000 people we employ in Cork. They serve our customers through manufacturing, tech support and other important functions. Our success in Europe and around the world is the result of hard work and innovation by our employees, not any special arrangements with the government. Apple has received no selective treatment from Irish officials over the years. We’re subject to the same tax laws as the countless other companies who do business in Ireland.

Since the iPhone launched in 2007, our tax payments in Ireland and around the world have increased tenfold. To continue that growth and the benefits it brings to the communities where we work and live, we believe comprehensive corporate tax reform is badly needed …

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