Apple set a new high for the March quarter on the back of a premium-priced iPhone lineup anchored by iPhone X, as well as continued growth in the services segment. Following the publication of its first fiscal quarter 2018 results, the company provided additional detail on the record-setting performance in an earnings conference call.
Apple on Tuesday revealed its second quarter results of fiscal year 2018, earning $61.1 billion in revenue, and an earnings-per-share of $2.73 again showing year-on-year growth, with the average selling price of the iPhone staying high above $700.
Apple will probably stop bundling a Lightning-to-3.5 millimeter adapter with this fall's new iPhones, according to a Barclays memo obtained by AppleInsider. The multinational bank also cut its price target for Apple stock from $168 to $157, citing worries about a "weaker iPhone franchise."
Negative comments from two Apple suppliers about the next iPhone generation could hamper investor expectations for the next quarter, suggests Gene Munster of Loup Ventures, but predictable iPhone sales make this only a near-term risk instead of a long-term problem.
Apple could make a major change to the way it names successive iPhone generations this year, Guggenheim analyst Robert Cihra suggests, tipping Apple to take the opportunity to simplify what the iPhones are called when the new models launch this fall.
Apple stock, and the market, are both taking a big hit after a notable analyst predicted in "in-line" quarterly earnings report accompanied with predictions for the June quarter being lower than what Wall Street is currently expecting.
Apple's share price dropped about three percent during pre-market trading going into Thursday on word that TSMC — the manufacturer of A-series processors for iPhones and iPads — is expecting about $1 billion less revenue for the second quarter than Wall Street forecasts.
CEO Tim Cook once envisioned China as Apple's next big market, set to eclipse even the U.S. in revenue. That dream has taken a raincheck in the past two years, with iPhone units down 8 to 11 percent — and Apple is unlikely to bounce back, an analyst suggested in a memo obtained by AppleInsider.
Apple will reveal quarterly earnings for its second fiscal quarter of 2018 on May 1, the company said on Monday, offering further insight on iPhone sales performance after what Wall Street called a lackluster holiday quarter.
After two decades of being stuck inside 1 Infinite Loop, Apple began building an expansive new Campus 2 now called Apple Park. In parallel, it leased a third large development known as AC3. But the company isn't finished. It's expanding in other directions and has already planned out another major campus in Silicon Valley with a capacity larger than the Spaceship. Here's a look.