Revenue reached new heights in Apple's holiday 2017 quarter, but unit sales of the iPhone fell year over year, reflecting the premium-priced lineup of the iPhone X, iPhone 8 Plus and iPhone 8. Following the publications of its first fiscal quarter 2018 results, the company held a conference call with media and analysts, and notes of interest follow.
Despite Apple's revenue rising 13 percent year-over-year during the December quarter and setting a new record, about $88.3 billion, the company is guiding between $60 billion and $62 billion in revenue for the March quarter — below market forecasts.
Apple continued its streak of record breaking holiday quarters, coasting to new heights yet again with revenue of $88.3 billion and earnings per share of $3.89, based largely on the highest-ever average selling prices for iPhone lineup.
Recent reports on iPhone X demand and alleged production cuts have caused concern on Wall Street, where investors eagerly await Apple's March quarter guidance from its latest earnings report. AppleInsider gives you a rundown of what to expect.
Ahead of Apple's December quarter results, analysts have been slashing targets for the company, based on a belief that iPhone sales are slower than expected. But Robert Cihra of Guggenheim hasn't budged on his $215 price target, telling investors on Wednesday that he sees the iPhone X as the start of a multi-year upgrade cycle.
Over the past year, the weakening U.S. dollar has created an increasingly favorable currency exchange environment boosting the value of Apple's foreign revenues as stated in dollars. That will have a significant impact on the company's quarterly earnings reported tomorrow.
Assorted media venues lit up when AppleInsider, based on actually reading an analyst's note, reported that the current iPhone X may be discontinued after one year. Unfortunately, many of those reports failed to accurately convey the substance or context of the rumor, instead opting to weave a narrative they seemed intent on telling.
Apple has made solar energy a key part of its commitments to achieve 100 percent renewable energy use across its corporate, retail, production and even its data center facilities. However, a steep new American tariff slapped on all solar components threatens to derail the rapidly-growing American solar industry and kill tens of thousands of desirable jobs.
Apple's lobbying money grew dramatically to $7 million in 2017 — but the biggest spender was Google, coming in at more than $18 million spent on lobbying efforts.
Apple's plan to repatriate the majority of its overseas cash holdings to the United States will majorly benefit its shareholders, analysts claim, with the company expected to use part of the cash influx to increase its share buyback programs and significantly boost dividend payments.
Apple analyst Ming-Chi Kuo has weighed in on iPhone X production rumors, also believing that there has been a reduction in orders — and because of weak demand the iPhone X design may be a one-up with production ceasing in the summer when replacements for the fall are being produced.
Apple stock rose nearly $3 in Wednesday trading following the midday announcement of plans to invigorate the U.S. economy, including repatriating billions of dollars in foreign cash reserves. [Updated with news on employee stock bonuses]
Apple has been included in Thomson Reuters' list of the 'Top 100 Global Tech Leaders,' with the iPhone producer put into sixth place in the rankings of firms identified as 'the industry's most operationally sound and financially successful operations.'
Responding to recent criticism over the potential negative impact smartphone use might have on children, Apple on Monday said it has long provided device owners, specifically parents, with a number of controls and built-in protections to safeguard young users.
In what is expected to be Apple's biggest and most profitable quarter ever, the company will report the results of its first fiscal quarter of 2018 after markets close on Thursday, Feb. 1.
Apple could potentially acquire the major video streaming service Netflix, analysts from Citi suggest, highlighting one of a number of ways Apple could use its $252 billion warchest in cash held overseas that it could repatriate to the U.S., following a cut in corporate taxes and changes to tax rules.
Contrary to supply chain speculation, production of the iPhone X remains right on schedule, according to investment firm Rosenblatt Securities, which also has seen evidence that sales are accelerating in China.
Analysts are predicting that Apple won't change its acquisitions strategy under tax reform allowing for cash repatriation from overseas, but instead will radically expand its stock buyback program, and give shareholders a dividend increase going forward.
Apple updated its investor website on Monday to announce details about the company's upcoming shareholders meeting, which is scheduled to take place at Apple Park's Steve Jobs Theater in February.
The Walt Disney Co., the major media conglomerate that has previously worked closely with Apple, has confirmed plans to acquire 21st Century Fox, with the $52.4 billion purchase of the entertainment rival likely to have major repercussions for the rest of the media industry.
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AppleInsider Staff
Roger Fingas
Neil Hughes
Daniel Eran Dilger
Mike Wuerthele
Malcolm Owen
Mikey Campbell
