Apple is climbing after topping Wall Street's earnings expectations (AAPL)

01 August, 2018, 05:00 | Author: Martin Tyler
  • Apple iPhone X

Apple sold 41.3 million iPhones during the quarter, compared to 41 million a year ago. A higher ASP means customers purchased more high-end handsets such as the iPhone 8 Plus and iPhone X, versus the iPhone 8 and prior generation models. "We expect the vast majority of Apple's product line-up to be refreshed during the next couple of quarters which should support near-term results". The company posted revenue of $53.3 billion. Of course, the iPhone still pulled down almost $30 billion in total revenue, but Services has rapidly grown from a minor segment of Apple's business to a major component.

Apple's software and services division, which includes the App Store as well as the company's music streaming service and mobile payment software, has become its growth powerhouse as smartphone sales flatline, and is now its second most-lucrative business unit after the iPhone itself.

Investors were expecting Apple to post at least $51 bilion in revenue, but the iPhone-maker has come away with $53.3 billion in income, marking a 17% increase from last June quarter. iPhone sales came in at 41.3 million units sold for the quarter which has Apple CEO Tim Cook absolutely stoked.

MoviePass is raising its price and cutting access to blockbusters
Most recently MoviePass simply ran out of money and, as a result, folks over the previous weekend weren't able to buy movie tickets.

Cook dismissed the need for record revenue during the call, saying that because the smartphone market is so vast, it doesn't matter if revenue dips or goes up 10%.

Despite the beat, James Cordwell, an analyst from Atlantic Equities, said the high selling prices might cause investors some concern because "there's a limit to how much Apple can grow the iPhone franchise by pushing pricing". The company is expected to launch three new phones later this year. Apple's market cap sits at $935.3 billion. Maestri told Reuters that sales from Apple Care, the company's warranty offering, were up 27 per cent versus a year ago, though the company did not disclose a dollar figure for sales.

That isn't great news for MacBook fans, but the mild revenue dip resulting from Mac sales was easily made up for by big growth in Apple's services segment. Along with various online TV, news and publishing, gaming and cloud-hosting services, Apple is targeting $50bn in annual services revenues by 2020.

Demi Lovato remains in LA hospital after suffering ‘complications’ following overdose
The singer is still at Cedars-Sinai Medical Centre in Los Angeles, where she was taken following being found unconscious at her home.

Another category potentially affected by tariffs is the Apple Watch, which is one of Apple's growth drivers.

Apple said its gross profit margin will be 38 per cent to 38.5 per cent in the fiscal fourth quarter, versus analysts' estimates of 38.2 per cent. Cook said wearables were a highlight of the quarter, with sales up 60 per cent year over year.

Finally, while Cook expressed opposition to new trade tariffs between the United States and China, noting how they're anti-consumer, he said that Apple is continuing to see double digit growth in China along with other major markets.

Supreme Court nominee Brett Kavanaugh gets major boost with Rand Paul backing
Paul had expressed some misgivings about the judge's views on collecting metadata and other libertarian hobby-horses. After threatening for weeks to oppose President Donald Trump's nomination of Judge Brett Kavanaugh for the U.S.

Recommended:

  • How Chelsea star Willian could fit in at Old Trafford next season

    How Chelsea star Willian could fit in at Old Trafford next season

    The Chelsea fans also had their say regarding the possible transfer of the 29-year-old and the bid made by United . However, Willian is set for a new era at Chelsea , following the arrival of Maurizio Sarri.
    CBS CEO Les Moonves faces sexual misconduct allegations

    CBS CEO Les Moonves faces sexual misconduct allegations

    He has launched primetime CBS hits such as " Everybody Loves Raymond ", " Survivor ", and " CSI: Crime Scene Investigation ". CBS in a statement said no misconduct claims have been made against Moonves during his tenure at the company.
    Winklevoss Bitcoin ETF Proposal Denied by U.S. SEC

    Winklevoss Bitcoin ETF Proposal Denied by U.S. SEC

    Those familiar with Bitcoin widely believe that the SEC's approval of an ETF will increase liquidity, and cause prices to rise. Furthermore, she stated that the disapproval order undermines investor protection, albeit unintentionally.
  • Manchester United boss Jose Mourinho says one more signing will be fine

    Manchester United boss Jose Mourinho says one more signing will be fine

    Juventus had previously been seen as a potential destination for Martial but they have spent their budget on Cristiano Ronaldo. Sources have told ESPN FC that Mourinho wants a centre-back and a right winger before the transfer window closes.
    EA Origin Access Premier launches next week

    EA Origin Access Premier launches next week

    EA has also announced that Origin Access Premier will be launching on July 30th. The standard Origin Access is now available for only $29.99 per-year.
    Manchester United plan sales to fund Harry Maguire deal

    Manchester United plan sales to fund Harry Maguire deal

    Honestly, I feel really good and I'm raring to go, and the minutes [on tour] are only going to help me become fitter. As per reports from ESPN , Juventus and Inter Milan have both shown interest in roping in the right-back.
  • Samantha Markle Fires Back at Chrissy Teigen, Calling Her 'Pudgy Airhead'

    Samantha Markle Fires Back at Chrissy Teigen, Calling Her 'Pudgy Airhead'

    In an interview back in 2013, Markle referred to a "leisurely dinner of seafood and pasta" as one of her top meal options. Last year, Meghan celebrated her birthday with Prince Harry on an African safari.
    McDonald's to offer

    McDonald's to offer "Mac Coins"

    Delligatti tried a bigger sesame seed bun, and the burger soon lifted sales by more than 12 percent. After similar results at more stores, the Big Mac was added to the national menu in 1968.
    LeBron James reveals one big regret about oldest son

    LeBron James reveals one big regret about oldest son

    The exception to that is James attending a Lakers' Summer League game in Las Vegas, as well as grassroots youth basketball games . In a clip from the show that will air on HBO , James was asked about his son by Jon Stewart , the former host of The Daily Show.
  • Hungarian GP: Lewis Hamilton enjoys a victory against the odds

    Hungarian GP: Lewis Hamilton enjoys a victory against the odds

    Bottas, suffering a loss of downforce when the Ferrari swung in front of him, had nowhere to go and contact was inevitable. Vettel will certainly be hoping so. "So I'm quite confident with what's in the pipeline".
    Hunt misidentifies Chinese wife

    Hunt misidentifies Chinese wife

    Foreign Secretary Jeremy Hunt , on his first official visit to China , quickly acknowledged the "terrible" error. Hunt was using visit to show Britain's commitment to deepening ties post-Brexit between the nations.
    Trump denies knowing about his son’s Trump Tower meeting with Russians

    Trump denies knowing about his son’s Trump Tower meeting with Russians

    Trump's problems go away, were to cut a deal, he would do so with an eye toward eliminating or cutting his potential punishment. You're with someone for 10 years, you don't think there's a lot?" Cohen did not immediately respond to a request for comment.


Popular

Will Mourinho be sacked this season?
Speaking after his young side was comprehensively outplayed in by old rivals Liverpool in a 4-1 defeat in Ann Arbour, Michigan . I think that it is possible I will have one. "We are not playing here to improve the team, the dynamic or our routines".

With nimbler bikes, Harley sharpens Asia focus to revive growth
Harley has also been investing in developing electric motorcycles as well as promoting its learn-to-ride academies at showrooms. The Harley Davidson Pan America 1250 will become the company's first adventure touring motorcycle once launched in 2020 .

University Of Kentucky Student Missing In Israel After Late-Night Swim
The two friends were safely pulled back to the shore, but Jones had not been seen since despite a massive search operation. Jones was a biology major with a minor in Islamic studies who had earned a spot in the university's premedical program.

Pixel Stand: Google Assistant-enabled wireless charging stand for Pixel 3 leaks
The notch will likely be used to house the front facing cameras, the Pixel 3 is likely going to have a dual front camera setup. The device itself is said to be a prototype of the Pixel 3 XL which doesn't boot because it has been wiped remotely by Google.

Trump Threatens Government Shutdown Over Border Wall Funding
President Trump tweeted. "Must get rid of Lottery, Catch & Release etc. and finally go to system of Immigration based on MERIT! ". He did acknowledge, however, that the border funding issue was unlikely to be resolved before the November midterm elections.

Israeli Forces Raid Al-Aqsa Mosque After Clashes
It said afterwards on Twitter that the boat had been "hijacked by Israeli forces". It has led to a catastrophic humanitarian situation in Gaza.

Geraint Thomas wins Tour de France
Team Sky principal Dave Brailsford was particularly pleased for Thomas , a rider he had known since his junior days. From that point he rode the most brilliant Tour, tactically astute but also sensitive to Froome's situation.

NY moves to oust cable provider Spectrum
Shares of Charter (chtr) initially fell more than 2% on the news, but quickly recovered. Charter says it has extended broadband service to 86,000 homes and businesses.

Zimbabwe's Robert Mugabe refuses to back successor Mnangagwa in election
Mr Mugabe added he would congratulate whichever party wins. "And let us accept the verdict". Mugabe said that he hoped to see democratic processes fully restored in the country.

MLB Rumors: Cubs Acquire Pitcher Cole Hamels In Trade With Rangers
It's worth noting that 16 of his 23 home runs allowed have come at home - that despite throwing almost the same amount of innings. Banister also said newly-acquired right-hander Eddie Butler will get consideration as a starter after the trade deadline passes.