AAPL Investors won’t wait forever for new Apple product categories, warns analyst

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While Tim Cook and the rest of the Apple board may be content for Apple to take its time in launching new product categories, investors may be less patient, warns BTIG analyst Walter Piecyk. He also argued that neither the Mac Pro nor a rumored larger-screen iPhone 6 would meet market expectations of innovation.

When we upgraded the stock in March, we assumed Apple could announce a new product that would generate $5 billion of revenue in Fiscal 2014.  That new product never materialized.  We can’t say we are not concerned.  For example, when Apple announced the new Mac Pro at WWDC in June, Phil Schiller proudly boasted, “Can’t innovate, my ass”.  If that is what the company considers to be innovative then there should be some concern for EPS growth.

In the investment note, Piecyk cautions that Tim Cook could face renewed investor scrutiny if he doesn’t deliver …  Read more

AAPL stock drops 8 percent on iPhone numbers and flat guidance

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Despite Apple returning to growth for the first time in a year, AAPL stock opened almost 8 percent down, as iPhone sales fell below analyst predictions and Apple’s mid-point guidance on Q2 earnings forecast was for zero growth.

Analysts had predicted 55.3M iPhone sales, while Apple reported sales of 51M. Analysts were also disappointed in Apple’s guidance for Q2 of $42-44B, as the mid-point of $43B would not show any growth over the same quarter last year …  Read more

Apple reports $57.6B revenue for Q1 2014: 51M iPhones, 26m iPads, 4.8m Macs, 6m iPods

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As expected, Apple just announced its fiscal year 2014 first quarter results for the all-important holiday quarter. It’s Q3 report only included less than a month of sales for the new iPhone 5s, 5c and revamped MacBooks, making today’s report the first to include a full three-month period of sales for the new devices on top of the expected boost in revenue leading into the holidays. It’s also the first report since Apple shipped the new Retina iPad mini, iPad Air, and Mac Pro.

Apple reported record quarterly revenue of $57.6 billion, which lands between its guidance for the quarter of $55-$58B and estimates by analysts averaging approximately $58.1B. It also reported net quarterly profit of $13.1 billion, or $14.50 per diluted share. Those numbers compare to the revenue of $54.5 billion and net profit of $13.1 billion reported in the same quarter last year.

Break down of device sales for Q1 2014 include 51 million iPhones, 26 million iPads (both all-time quarterly highs), 6 million iPods and 4.8 million Macs. Prior to today’s report the consensus from an average of analyst estimates predicted Apple would sell approximately 55M iPhones, 25M iPads, and 4.6M Macs. Read more

iPhone market share continues to fall, but it’s Samsung feeling the pressure

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While Android reaching almost 70 percent of smartphone sales across 12 key markets is the headline, with iOS falling to just under 24 percent, it is Samsung feeling the pressure, says Kantar, reporting sales figures for the final quarter of 2013.

After years of accelerated growth, Samsung is now coming under real pressure in most regions, with European share down by 2.2 percentage points to 40.3% and in China its share ended the year flat at 23.7% [...]

Apple has lost share in most countries compared with this time last year, but importantly it has held strong shares in key markets including 43.9% in USA, 29.9% in Great Britain and 19.0% in China …  Read more

While everyone is looking back, the analysts look forward to Monday’s Mac numbers

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While there’s plenty of looking back going on todayFortune has gathered together analyst forecasts of the Mac numbers we can expect Apple to reveal at its earnings call on Monday. This follows earlier forecasts for iPhone and iPad.

The average prediction is for 13 percent year-on-year growth, predicting that Apple sold 4.6 million Macs in the final quarter of 2013 (Apple’s fiscal Q1). This is slap bang in the middle of the growth predictions for iPads (10 percent) and iPhones (16 percent) …  Read more

Icahn says Apple “doing great disservice to shareholders,” increases AAPL investment to $3B

Following a precatory proposal from billionaire investor and Apple shareholder Carl Icahn urging Apple to vote on a larger buyback, Icahn today announced on Twitter that he thinks Apple “is doing great disservice to shareholders by not having markedly increased its buyback.” He also said that he would soon send Apple another in-depth letter regarding his proposals and confirmed that he has purchased another $500 million in Apple shares bringing his total investment to $3 billion.  Read more