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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Apple has officially posted its Q2 2016 earnings results with $50.6 billion in revenue and $10.5 billion in profit from the January to March quarter. Apple’s guidance last quarter first pointed to a year-over-year decline in iPhone sales for the quarter following the holiday season citing global economic issues and inflated iPhone 6 demand due to supply constraints the year earlier. Apple’s updated 4-inch iPhone SE and 9.7-inch iPad Pro launched at the end of March.

Apple® today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarter’s revenue.

Here’s Apple’s breakdown of iPhone, iPad, and Mac sales from the quarter:

  • iPhone: 51.1 million units
  • iPad: 10.2 million units
  • Mac: 4 million units

For iPhone sales, that’s an 18% year-over-year drop and a 19% drop for iPads.

Apple CEO Tim Cook had this to say:

“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”

And Luca Maestri, chief financial officer, said this:

“We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter,” said Luca Maestri, Apple’s CFO. “Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion.”

Apple’s Q2 results compare to the prior quarter’s $75.9 billion in revenue, 74.8 million iPhone sales, 16.1 million iPad sales, and 5.3 million Mac sales. In the same quarter a year ago, Apple reported $58 billion in revenue, 61.1 million iPhones sold, 12.6 million iPads sold, and 4.5 million Macs sold. Apple reported $18.4 billion in profit in the prior quarter and $13.6 billion in profit in the year ago quarter.

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9to5toys 

AAPL April 23

AAPL: 105.68

-0.29
Stock Chart

In this week’s top stories, the iPhone rumor mill was in full effect as reports surfaced claiming Apple could introduce an new all glass design for a next-generation device. That news was accompanied by Apple’s 12-inch MacBook refresh, an official announcement for WWDC, and the latest Apple Car news. Head below for the quick links to all of this week’s top stories and much more:

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AAPL April 20

AAPL: 107.13

0.22
Stock Chart

Just a day after a prominent legal expert described the proposed anti-encryption Burr-Feinstein bill as unconstitutional, unenforceable and harmful, Apple has called the proposal ‘well-intentioned but ultimately unworkable.’

The description is in an open letter from the Reform Government Surveillance coalition, of which Apple is a key member, alongside companies such as Google, Dropbox, Facebook, Microsoft and Twitter. The letter, addressed to the two Senators behind the proposed bill, explains why it would be harmful to the interests of both the U.S. people and American businesses …

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AAPL April 19

AAPL: 106.91

-0.57
Stock Chart

Apple had published its latest Transparency Report on Government Information Requests, covering the second half of last year. It revealed that it received over 30,000 requests last year, and complied with up to 82% of them. It is not allowed to specify the exact number of National Security Requests, but says they fell into the 1250-1499 band.

Apple breaks down the numbers by country, region and type of request. It says that most fall into what it terms device requests. Apple’s compliance here ranges from 52% in EMEA (Europe, Middle East, Africa) and India, to 80% in the USA.

The vast majority of the requests we receive from law enforcement relate to information about lost or stolen devices, and we report these as device requests. Device requests may include requests for customer contact information provided to register a device with Apple or the date(s) the device used Apple services. We count devices based on the individual serial or IMEI numbers related to an investigation. We encourage any customer who suspects their device is stolen to contact their local law enforcement agency.

Of perhaps greater interest are account requests, where the government is asking for information ranging from names and addresses to copies of iCloud backups …

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