Thursday, 15 November, 2018

Apple CEO Tim Cook ‘very bullish’ on India

The iPhone 5 was one of the best iPhones Apple ever built The iPhone 5 was one of the best iPhones Apple ever built
Elsie Buchanan | 05 November, 2018, 01:51

The iPhone still looms large over Apple's fortunes, accounting for more than 60 per cent of revenue.

Despite facing headwinds in India, Apple CEO Tim Cook is still betting on turning around its performance in the long term. In comparison, a year ago during the same quarter Apple had managed to sell around 900,000 units.

Investors have never been able to check on the progress of some devices, like the Apple Watch, and some fear that any forthcoming slump in the key area of iPhone sales would be hard to spot.

Apple's revenue in Q4 2018 increased by 20% to US$62.9 billion.

"If you look at our revenue, given the last three years, if you look at our net income during the last three years, if you look at our stock price here in the last three years, there's no correlation to the units sold in any given period", Maestri noted. And investors tend to value subscription business through a combination of their revenue growth rate and margins - information that Apple investors will now have, said Tien Tzuo, chief executive of Zuora Inc, a company that helps subscription businesses track their finances.

Contrary to that, sale of Mac devices declined with Apple selling a total of 5,299 units of its Mac computers in the final quarter of 2018 to 5,386 units sold in the final quarter of 2017.

Analyst Walter Piecyk from BTIG said that the strength in average selling price in the quarter just ended suggested that Apple was targeting unit sales behind Wall Street estimates.

Trump Says U.S. Military May Fire on Migrants Who Throw Rocks
The speech follows a series of proposals and statements on immigration that Trump's opponents have called outlandish stunts. Mexico on Wednesday put the size of the caravan that left Honduras in mid-October at 2,800 to 3,000 people.


Apple says instead it'll focus on the revenue generated.

Apple was unique among big smartphone makers in saying how many phones it sold and what the average price was.

Apple's "privacy commitment now extends to iPhone unit disclosure", Amit Daryanani of RBC Capital Markets wrote in a note to investors.

iPad unit sales amounted to 9.69 million, down 6 percent year-over-year. Apple will no longer report unit sales of iPhones, Macs, and iPads in future quarter earnings releases. For most people it is the number of units shifted by a company that are indicative of success or failure of a particular product.

In contrast, Apple's services business, which includes Apple Music and iTunes, continues to grow, with revenue up 17% on this time previous year to just under 10 billion dollars (£7.6 billion). This is because Apple is able to raise its prices and target only high-end customers.

When asked about how Apple plans to continue growing its services business, CFO Luca Maestri highlighted the "exponential trajectory" of all of Apple's services from Apple Music to the Apple Store to Apple Pay. The transparency by Apple was liked by many people including analysts.

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