During its fiscal Q2 ending in March, Apple spent $18 billion to buy up its own stock off the market. More than three quarters of that total was used to snatch up discounted stock after investors panicked following Apple's Q1 earnings announcement in January.
Over two thirds of people registering an iPad in the last six months were new to iPad, while over half of those registering iPhone were new to iPhone, Tim Cook revealed, highlighting the attraction and loyalty effects Apple is observing in its products.
During Apple's quarterly earnings conference call, chief executive Tim Cook said he looked forward to welcoming Angela Ahrendts as the company's new retail and online leader next week, while offering public thanks to outgoing chief financial officer Peter Oppenheimer.
The announcement that Apple Chief Financial Officer Peter Oppenheimer will retire later this year, making way for Luca Maestri to take over the position, was not surprising to investors on Wall Street, who generally responded with confidence on Tuesday.
Peter Oppenheimer, senior vice president and chief financial officer of Apple, will retire from the company at the end of September, after spending 18 years with the Mac maker, it was announced on Tuesday.
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Daniel Eran Dilger
Neil Hughes
AppleInsider Staff
