Apple CEO attributes second quarter success to iPhone X

Cole Bennetts  Getty Images

None of those benefit hardware partners such as Taiwan Semiconductor Manufacturing and Hon Hai Precision Industry, whose fortunes are more closely tied to iPhone unit sales, which rose just 2.9 percent in the March quarter despite a 10th-anniversary device that was supposed to drive a super-cycle of demand.

Analysts say that its strong iPhone sales allows Apple to keep its HomePod [smart speaker] business humming while the industry awaits augmented and virtual reality to take another 3 to 5 years to provide growth. So it is not worth to expect that Apple will decrease prices anytime soon. Earnings per share of $2.73 narrowly beat the analysts' $2.69 average. Revenue rose 16 per cent to US$61.1 billion. In the first three months of this year, Apple spent $23.5 billion on share repurchases.

Apple surprised everyone by garnering more than expected sales during the second quarter of 2018. It also managed to improve upon 2017's second quarter taking of $11.03bn by taking $13.82bn this year. Corundum Group Inc. now owns 2,242 shares of the iPhone maker's stock valued at $346,000 after purchasing an additional 299 shares in the last quarter. For the April-June quarter, the company forecasts revenues between $51.5 billion and $53.5 billion, compared to analysts prediction of $51.6 billion.

Lawmakers have been hoping Apple and other companies would use the overseas cash to create more jobs in the US and spend more on other projects that will help accelerate economic growth. "We also grew revenue in all of our geographic segments, with over 20 percent growth in Greater China and Japan". "It is a huge market and it is clear that many people will be moving into the middle class over time, as we have seen in other countries", said Cook. Revenue from services surged 31pc to a record $9.2bn.

Apple bought US$23.5 billion of stock in the March quarter, and said it planned to hike its dividend 16 per cent, compared with a 10.5 per cent increase past year.

Also showing notable growth was Apple's Other Product category, which saw its total revenue up 38 percent to $3.95 billion.

Rep. Blackburn: Trump Deserves Nobel Prize
And even President Moon says that and he's been great", Trump said. "Personally I think it will be a success, we will see". The Nobel Peace Prize is one of six awards given yearly by the Nobel Committee.


3D Touch to Be Dropped From New iPhones
Even though the iPhone X starts at $999 and the iPhone 8 starts at $699, the iPhone X only costs around $115 more to produce. That made it hard to price the product much below $1,395, without slicing Apple's legendary profitability.


Boston Bruins Dominate In Game One As Top Line Goes Off
One player worth watching for the Lightning is Victor Hedman, who produced two goals and an assist against the Bruins . Celtics Hall of Famer Tommy Heinsohn was the honorary fan banner captain, getting the crowd riled up before the game.


The first quarter of 2018 was the biggest quarter on record for buyback announcements, with $242.1 billion worth of buybacks announced by US companies, according to TrimTabs.

Though, perhaps a bit surprisingly, Cook did at least nod at the results that indicate top seller or not -The iPhone X has perhaps not lived up to what was expected of it.

Apple chief executive Tim Cook offered a bullish outlook on the company, touting the company's product pipeline as the "best we've ever had" and championing good sales of the iPhone 10, a recently unveiled model whose $1,000 price tag has aroused worries about being too high. Average selling prices for iPhone were $728, which is lower compared to the Wall Street expectations of $742. The phone in question is the Apple iPhone X, and since the beginning of this year there was talk that Apple was cutting orders for the phone by 50%. But Apple firmly believed that it could still sell a ridiculously expensive phone by offering an entirely new design and innovative features such as Face ID and Animoji.

Apple has been seen as vulnerable to in the wake of intensifying rhetoric and threats between Washington and Beijing that have raised worries of a trade war.

Buoyed by Asian growth, Cook reveals that India is the next market for the tech giant to set up retail stores in.

Related News:



Most liked

US Military C-130 plane crashes near Savannah airport; no survivors — Georgia
The Savannah airport said on Twitter that it was "assisting local agencies with an aircraft incident off property". Anyone with photos or videos of the crash can direct their information to the 165th Airlift Wing Public Affairs.

Neighbor sought in murder of couple dead of drug overdose
Police are looking for Daniel Kenneth Mooney (right) in connection with their deaths. "This tragedy is unfathomable to all of us". A painter who was doing work on the couple's home discovered the bodies. "It was clear they were building a life for themselves".

Drake & Kendrick Perkins Involved in Heated Exchange at Raptors vs. Cavs Game
Drake and Perkins were also filmed exchanging words at the end of the game which the Cavs won 113-112 to take a 1-0 lead in the PlayOffs.

Amazon Is Expanding In Boston, And Bringing 2000 Jobs To Seaport
More than 6,000 people now work for Amazon in Canada, including 1,000 researchers and engineers in Vancouver at several sites. Trudeau said there are many reasons why industry giants such as Amazon choose to settle and grow in Canada.

White House: Jackson allegations not backed up by records
Tester, speaking on MSNBC, acknowledged that not all the allegations had been verified, but said they should be investigated. Thank you, Senator Tester, for your service to Montana, and for acting responsibly.

Passenger Sues Southwest, Claims PTSD After Blast on Flight
Passenger Jennifer Riordan was partially sucked out of the plane when debris moving at high speeds blew out the window. He also wanted to meet passengers who assisted other travelers.

The Fortnite Comet Finally Hit
So, if you bought all 100 tiers to get to the Omega Fortnite skin as quickly as possible then it would cost you 15,000 V-Bucks. There actually isn't a whole lot of loot to be found here but that hasn't stopped players from checking out the new location.

And the Royal Baby's Name Is …
Baby name betting - yes, that actually happens - had odds on either Albert , Arthur or James being the couple's pick. Hours later, she and Prince William publicly debuted their third child on the stairs of the Lindo Wing in London .

Oculus Go is shipping today
With over 1,000 apps, games and experiences available at launch, there will be plenty to play when your Oculus Go arrives. Battery life is set around 2 hours for playing games, and about 2.5 hours when you're streaming media and video content.

Samsung Galaxy S7 and S7 Edge Android Oreo updates starting in UK
For the Galaxy S7 , the software firmware version is G930FXXU2ERD5, and for the Edge model, the firmware version is G935FXXU2ERD5. As promised by the company, the Honor 7X Oreo update has started rolling out in the United States.

Cosby juror: Comedian's talk of quaaludes led to conviction
He explained that although there were inconsistencies in Constand's testimony , Dr. He added: "I never watched The Cosby Show or anything".

Macron mystery solved: French friendship tree in quarantine
The missing sapling is simply in quarantine, as is required for plants and animals brought into the USA from outside the country. The pair planted the tree, which came from Belleau Woods northeast of Paris, outside the White House last week. .

United edge Wenger's swansong at Old Trafford
He knew had a job today and he would have been thinking: I've a game to prepare for - I've got to get my mindset right. Former United manager Ferguson and Wenger endured a bitter rivalry for much of their respective careers.

Trump extends exemptions on steel, aluminum tariffs
Gregory Daco, chief United States economist at Oxford Economics, warned of financial shocks if the tariffs go into effect. Goods include sweetcorn and cranberries, along with Kentucky bourbon, cigars, jeans and motorcycles.

After the NFL Draft, Eagles get extra busy in building roster
At his pro day attended by scouts from all 32 National Football League teams Mailata ran the key 40-yard dash in 5.12 seconds. Mailata admitted that his knowledge of the American game was "peanuts" when he started training.