AAPL ▪ August 5

AAPL: 115.40

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The stock market can often seem an irrational place, and never more so than where AAPL is concerned. The company keeps reporting record sales, has typically out-performed analyst expectations, takes home almost the entire smartphone industry’s profits and has so much cash it scarcely knows what to do with it – yet its share price is falling.

AAPL stock has fallen more than 14% since April, wiping $113B from the company’s market valuation. It dropped 7% in the past month alone. That’s the equivalent of McDonalds vanishing into thin air. What gives?  expand full story

Kantar data suggests that the iPhone increased its market share during Q2 in all of the countries it surveyed bar the USA. Apple’s share of the smartphone market grew in China, Australia and all five of Europe’s largest markets, defying the usual lull in sales seen during the run-up to a new model in September.

Apple iOS returned to growth across all of Europe’s ‘big five’ markets [of] Great Britain, Germany, France, Italy, and Spain,” reported Carolina Milanesi, chief of research at Kantar Worldpanel ComTech.

Kantar surveyed buyers to determine the reasons they selected the iPhone over Android rivals, with owners listing four main factors …  expand full story

AAPL ▪ July 23

aapl

An SEC filing by Apple shows that the company plans to increase this year’s spend on product development by $1.5B, reaching a total of $5.9B by the end of September, reports Business Insider. At the same time, Apple is cutting its forecast capital expenditure by $1B, which the company told the WSJ was due to efficiency savings.

A company spokeswoman said Apple lowered the forecast because it was able to spend more efficiently for tooling equipment and facilities. “There are no changes in our product plans,” she said.

Apple explores a great many potential new product ideas, and the increased spend on product development could conceivably indicate that the company is choosing to invest more heavily in one of these, BI speculating that it may be the long-rumored Apple car …  expand full story

AAPL ▪ July 22

china

One of the most remarkable numbers revealed yesterday by Apple was that revenue in Greater China – the term used to describe mainland China plus Hong Kong, Macau and Taiwan – more than doubled in the past year. Year-on-year revenue in the region more than doubled, compared to Apple’s already impressive worldwide growth of 33% …  expand full story

AAPL ▪ July 21

Tim Cook Apple Watch Apple Store

Right on schedule, Apple has shared its Q3 2015 earnings results reporting revenue of $49 billion and $10.7 billion in profit during the April to June period. Notably, the company’s Q3 period is the first that includes initial Apple Watch sales as the device first launched on April 24th.

Apple® today announced financial results for its fiscal 2015 third quarter ended June 27, 2015. The Company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share. These results compare to revenue of $37.4 billion and net profit of $7.7 billion, or $1.28 per diluted share, in the year-ago quarter. Gross margin was 39.7 percent compared to 39.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.

While Apple isn’t specifically breaking out Apple Watch sales (or iPod sales for that matter), the company does disclose iPhone, iPad, and Mac sales by unit:

  • iPhone: 47 million units
  • iPad: 10.9 million units
  • Mac: 4.7 million units

While Apple isn’t breaking out Apple Watch or Beats numbers, the ‘other services’ which includes those categories as well as iPods and Apple TV reports $2.6 billion in revenue.

Apple CEO Tim Cook said this about the company’s Q3 results:

“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Tim Cook, Apple’s CEO. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”

Luca Maestri, Apple’s chief financial officer, added this:

“In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33 percent and earnings per share up 45 percent,” said Luca Maestri, Apple’s CFO. “We generated very strong operating cash flow of $15 billion, and we returned over $13 billion to shareholders through our capital return program.”

Today’s Q3 results follow last quarter’s $58 billion in revenue and 61.1 million iPhones sold, 12.6 million iPads sold, and 4.5 million Macs sold globally. During the same quarter a year ago with the iPhone 5s at the top of the lineup, Apple reported $37.4 billion in revenue and 35.2 million iPhones sold, 13.2 million iPads sold, and 4.4 million Mac sales. Apple reported $13.6 billion in profit last quarter and $7.7 billion during the same quarter a year ago.

The company’s quarterly conference call is scheduled for 2 PM Pacific/5 PM Eastern to discuss today’s results. Stay tuned for our live coverage of the call. Both Cook and Maestri usually review the quarterly results before fielding questions from analysts. With the first Apple Watch sales included in today’s report, the new device is sure to be a major topic of the call.

Apple’s complete Q3 earnings report is below: expand full story

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