Category: Apple News

Apple Holds Strong With Q313 Revenue of $35.3 Billion

Apple today announced financial results for its third fiscal quarter of 2013 which ran from January April 1, 2013 until June 30. Apple posted revenue of $35.3 billion and net quarterly profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter.

Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter. International sales accounted for 57 percent of the quarter’s revenue.

Gross margin continues to be the number that many analysts watch closely as it continues to fall quarter to quarter. Primary reasons for this drop include the tighter margins on the iPad mini and heightened sales of cheaper iPhone models. To see this trend in action the key indicator is the changing average sales price of Apple’s top products. The iPhone’s ASP has dropped from $613 in the year-ago quarter to $581, the iPad has dropped from $515 to $436.

Apple reported the following number of shipments for its products during the quarter:

  • 31.2 million iPhones compared to 26 million in the year-ago-quarter
  • 14.6 million iPads compared to 17 million in the year-ago-quarter
  • 3.8 million Macs compared to 4 million in the year-ago quarter
  • 4.5 million iPods compared to 6.7 million in the year-ago quarter.

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Apple Announces Q213 Revenue of $43.6bn

AAPL Q213 Revenue Chart

Apple’s fiscal second quarter revenue with top end Apple estimate

Apple today announced financial results for its second fiscal quarter of 2013 which ran from January 1, 2013 until March 31. Apple posted revenue of $43.6 billion and net quarterly profit of $9.5 billion, or $10.09 per diluted share. These results compare to revenue of $39.2 billion and net profit of $11.6 billion, or $12.30 per diluted share, in the year-ago quarter. Gross margin was 37.5 percent compared to 47.4 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.

Apple reported the following number of shipments for its products during the quarter:

  • 37.4 million iPhones compared to 35.1 million in the year-ago-quarter
  • 19.5 million iPads compared to 11.8 million in the year-ago-quarter
  • 3.95 million Macs compared to 4 million in the year-ago quarter
  • 5.63 million iPods compared to 7.7 million in the year-ago quarter.

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128GB iPad Release Contains a Message

iPad with Retina Display (4th gen)

iPad with Retina Display (4th gen) | Image courtesy of Apple

Today Apple did something somewhat out of the norm for the company, despite being rumoured ahead of time Apple released a new model of the iPad. But it didn’t change anything apart from the storage capacity, offering a whopping 128GB of storage for a meaty $799 (£639) for the WiFi model or $929 (£739) for the WiFi and Cellular model. This new iPad will be available to buy on February 5th.

There are many questions as to why Apple released this iPad this week or why in the supposed era of cloud storage that a 128GB iPad is even required. However it’s not that hard to speculate as to why Apple announced the 128GB iPad (apart from to try and out do Microsoft’s release of Office 2013) today.

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Cook Consolidates Senior Management Team

Scott Forstall introduces the ill fated iOS 6 Maps at WWDC 2012

Scott Forstall introduces the ill fated iOS 6 Maps at WWDC 2012

In a way we all liked to state how much of a mark Tim Cook was leaving upon Apple. Almost every move he made the writers and the bloggers would burst out into the open and exclaim about this was Tim leaving his legacy upon Apple, doing as Steve Jobs wanted and not leading in his shadow.

However with the largest shakeup in Apple leadership since Jobs took over from Gil Amelio in 1997 we can now really see Tim Cook leaving his mark on Apple. And under the guise of a closed stock market due to Hurricane Sandy and a distracted press a release was pushed out notifying of huge changes at the top (as was pointed out to me by a friend, when Katie Cotton is on the bottom of the PR you know it’s serious).

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Apple Unleashes Mountain Lion

Mountain Lion Notification Center on a MacBook Air

Mountain Lion Notification Center on a MacBook Air | Image courtesy of Apple

Today Apple has released OS X Mountain Lion onto the Mac App Store and into the hands of many eagerly awaiting customers. Priced at just $19.99 (£13.99) this marks Apple’s cheapest update and the first OS in a cycle in which Apple proclaims it will deliver an upgrade a year. This philosophy means that the upgrades will be small iteration updates, not the gigantic feature packed updates of the past.

In February when Mountain Lion was announced I wrote up the basic changes that extend far and wide but not necessarily so deep.

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MacBook Pro With Retina Display Debuts

MacBook Pro with Retina Display

MacBook Pro with Retina Display

Coming on the tail of minor updates to Apple’s other notebooks the company took to the stage at WWDC 2012 to unveil a new MacBook Pro with a Retina display. Known as MacBook Pro with Retina Display the new notebook features very powerful innards, long battery life and a super thin enclosure. The new MacBook Pro weighs just 2KGs and is just 18mm thick.

In a press release Tim Cook said, “The MacBook Pro with Retina display pushes the limits of performance and portability like no other notebook”. Adding, “With a gorgeous Retina display, all flash architecture and a radically thin and light design, the new MacBook Pro is the most advanced Mac we have ever built.”

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Apple Refreshes Notebooks, Desktops Lag Behind

MacBook Air (Mid 2012)

MacBook Air (Mid 2012)

In a demonstration of just how much more important notebooks are to Apple the company today took to the stage at WWDC to refresh all of their portable Macs. Apple gave the MacBook Pro and MacBook Air a minor speed bump as well as releasing a new model of MacBook Pro with a Retina display.

Apple quietly gave the Mac Pro a mild refresh including some newer Intel processors, although they’re still a couple of years old. Unlike the notebooks which gained USB 3.0 support the Mac Pro remains without Thunderbolt or USB 3.0. Neither the iMac nor Mac mini received an update today.

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Apple Blazes Into the Future With New iPad

The new iPad with Retina display

The new iPad with Retina display | Image courtesy of Apple

Apple today announced a new iPad finally putting an end to the chorus of iPad 3 rumours that have been circulating for many months. The new iPad, which is simply named iPad, is very much in line with the rumours. Also announced today, in line with expectation, was a new Apple TV.

Apple’s new Apple TV offers 1080p output and a new user interface which very much looks like Apple is positioning the device for more apps in the near future. Apple TV users can choose from over 15,000 movies and over 90,000 TV episodes on the iTunes Store, now available in 1080p. Apple TV also continues to offer content from Netflix’s streaming catalogue, live sports from MLB, NBA and NHL as well as Internet content from Vimeo, YouTube and Flickr.

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Shareholder Meeting Reveals Little Insight

Tim Cooks talks about the iPhone 4S during the launch on October 4, 2011

Tim Cooks talks about the iPhone 4S during the launch on October 4, 2011

Apple today held its annual shareholder meeting on its Cupertino campus. The meeting which I gave some detail on at World of Apple yesterday went as expected with no announcements of particular importance. Most notable from the meeting was a continued insistence from CEO Tim Cook that the company was in discussions about its massive cash pile, which is approaching $100bn, but had nothing to announce at today’s meeting.

Despite Apple advising against proposal 7 the procedure to elect board members with a majority vote has been adopted. It sees board members agree that they must voluntarily resign if they do not receive a majority vote. At today’s meeting all the directors were elected with more than 80% of the vote.

Ernst and Young were also approved as Apple’s auditor for the financial year.

Proposals on directors declaring conflicts of interest, shareholders having a say on directors pay, and disclosure of political contributions were all not approved.

Following the formal procedures Tim Cook took the stage, noting on Steve Jobs’ passing Cook said that “There’s not a day that goes by that I don’t miss him.” Cook also thanked shareholders for their condolences and says that his sadness has turned to determination.

Recounting figures that we’ve heard before Cook said that last quarter Apple had more than 360 retail stores with 110 million people visiting during the quarter.

Phillip Schiller and Peter Oppenheimer also joined Tim Cook on stage to answer questions with one shareholder coming out against a regular stock dividend, instead suggesting that Apple uses the cash to acquire video content. Cook replied by saying:

“On cash, we’ve been thinking about cash very deeply, the board has been looking into what is in shareholders’ best interest … We’ve spent billions on the supply chain, retail, etc… My message there is that the board and the management team are thinking about this very deeply… And we will do what we think is in the best interest of shareholders.”

[…]

“We haven’t had to own a music label to accomplish what we did in music.”

On questions about Apple’s future TV plans Cook refused to comment.

When asked whether Facebook was a friend or foe Cook responded by saying that he “always thought that the two companies could do more together.”

Another shareholder suggested that Apple invest in scholarships for science and engineering education. Cook responded by saying that “We strongly believe education is the great equaliser.” In relation to Apple’s policy of matching donations it was noted that Apple employees have been raising money for educational establishments and Apple was matching these.

Finally on a stock split Cook said, “We talk about everything we think is in the shareholders’ best interest. A stock split isn’t so clear.”

The meeting concluded after a little under 70 minutes.

Ahead of Apple’s Annual Shareholder Meeting

Apple HQ, 1 Infinite Loop | Photo by Wysz - Flickr

Tomorrow Apple will hold its annual shareholder meeting on its Cupertino campus in California. The expectations for this meeting are greater than normal, they’re practically sky high and honestly largely improbable.

Apple’s ASM is actually a relatively under-reported event despite its importance. Last year’s meeting held during the same February was hosted by Steve Jobs and focused primarily on environmental issues and Apple’s financial situation. This year’s meeting is unlikely to be any different with a growing pressure from investors for Apple to pay a dividend and executives fielding questions on Chinese labour conditions and Apple’s green credentials.

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