I'm alrady giving them what I can afford. So 🤷‍♂️. Maybe you can chip in some more next quarter.
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Apple Reports 1Q 2024 Results: $33.9B Profit on $119.6B Revenue
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And people laughed at me last week when I said we, the customers, already pay a Core Technology Fee by purchasing devices that have a 35-45% profit margin.
In any case, that growing "Services" figure explains why Apple is prepared to fight so ugly -- even waging cold war on developers in broad daylight -- to retain its app installation monopoly.
Their 4 consecutive quarters of declining revenues has come to an end with revenue up 2.05% Y/Y
China and slight miss on Services revenue
For its fiscal first quarter ended Dec. 30, Apple reported sales of $119.58 billion and profit of $2.18 per share, both above analyst expectations of $117.91 billion and $2.10 per share, according to data from LSEG.
Sales of iPhones hit $69.70 billion, growing 6% to beat analyst expectations of $67.82 billion, according to LSEG data.
Apple said sales in China were $20.82 billion, missing analyst estimates of $23.53 billion, according to LSEG data.
Cook told Reuters that, when accounting for currency exchange rates, iPhone sales in mainland China were down "mid-single digits" in the quarter but said the company's installed base of iPhones in China is at an all-time high.
Counterpoint Research reported China iPhone unit shipments fell during the quarter, with Chinese consumers looking to novel folding phones and homegrown rival Huawei, which re-entered the market with a flagship phone powered by a Chinese-made chip.
[ . . . ]
The biggest growth area for Apple during its fiscal first quarter was its services business, which includes the Apple TV+ service as well as music, iCloud storage and the App Store, and which rose 11% to $23.12 billion in sales. The results were slightly below analyst expectations of $23.35 billion, according to LSEG data.
Mac sales up (thanks to M3 chip?) while iPad sales down.
Apple's first-quarter Mac sales were up slightly to $7.78 billion, in line with analyst expectations of $7.73 billion, according to LSEG data. Sales of iPads were down 25% to $7.02 billion, missing expectations of $7.33 billion, according to LSEG data.
Not really. Companies are still adjusting to new standards of office and remote work. The supply chain still hasn’t fully recovered. This nation lost many tens of thousands of skilled workers to the pandemic that will take decades to replace…
I’m not making any excuses for Apple. It seems to me that we’re seeing the end result of putting an operations person instead of a product person at the head of a company everyone expects to be innovating constantly. Clearly Cook is not interested in pressing innovation. He delegates that and without the strong guiding hand of a true product developer Apple has slowly slid into meaningless iterations of past glories.
I did my calculation based on 18B/4. But I counted it all as profit since there's not really any cost to changing a string. I guess I didn't account for taxes and stuff though? So that 10-15% I mentioned was 10-15% of the 34B profit.
Those iPhone revenues tell me they've already found someone younger and prettier than me...
Indeed. This is where Apple intends to grow more. I bet they are really jealous about how Meta is performing.
Closing price for the day was up almost $2.50. Movement from after hours trading is what you are looking at.
The Mac vs iPad Revenue gap is growing larger. Apple has really decentivized the iPad in the span of three years, and now with the announcement that only iPhones are getting sideloading with DMA compliance but not iPads, there's now even less reason to buy iPads now. Guts of a Mac, but does a lot less than a Mac, and is more expensive than a Mac. There's no point in buying an iPad anymore unless you're an artist, just buy a Mac instead. Aside from the lack of a touch screen it can do everything an iPad can and a lot more, and it's battery life lasts vastly longer too.
Vision Pro. Apple’s new services platform. You want NFL, MLB or NBA on Vision in 3D with enhancements? New, more expensive subscription. Want 3D content on Max etc.? New, more expensive subscription.
Oh, loving all this expensive content? Just wait. Ads coming soon! Right in your FACE. I mean, unless you get the NEW, more expensive ad free subsciption.
And so on.
Meta is up about 245% in the last 12 months taking into account after hours today.
Apple is up about 20% in the last 12 months taking into account after hours today.
People should already know Good News = stocks go down / Bad News (redundacies etc) = stocks go up. Cant believe people are commenting on the stocks if it has moved by $2..
Apple probably doesn’t use iPads to calculate their earnings.
Sure, but they're growing at a faster rate than Apple.Meta lost $4.6B in one quarter in their Quest unit...My Meta stock is significantly out preforming my Apple stock
For fiscal Q4 2024, Meta earned $5.33 per share, an increase of 202.8% from $1.76 per share a year ago.
Revenue grew 24.65% to $40.1 billion from $32.17 billion a year ago.
Compare that to Apple's 2.05% revenue growth and EPS growth of 15.96% ($2.18 vs $1.88 a year ago)
Meta's also going to pay a 50 cent quarterly dividend. Apple? 24 cents.
Apple also declared a quarterly dividend payment of $0.24 per share, payable on February 15 to shareholders of record as of February 12.
Meta's net income during the quarter was $14 billion and they're going to pay a 50 cent dividend. Apple's net income during the quarter was $33.92 billion -- that's over 2x more than Meta's -- but Apple's only going to pay a 24 cent dividend (less than half of Meta's). Shows how cheap Apple is.
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I see it completely the other way around. Without any update, iPad’s revenue matches that of the Mac, despite its great current status. To me, that means the iPad concept is working really great. I like my Mac, but using an iPad is a delight compared to it.
This year looks pretty good, with compelling updates (specially in the case of the iPad Pro). Sideloading would be at best irrelevant (I don’t think the negative effects of the DMA on the iPhone will show up at least for some months).
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Came here to make the same kind of comment!
Glad I sold my Apple stock when it spiked a year or two ago and didn't look back. When you look at how high Mac pricing has gotten on the "Pro" level machines at this point, even the 6.5% of revenue figure sounds like it means a drop in units sold? They should be making enough on each sale, now, to see the number rising a few more percentage points than that if sales were holding steady!
I mean, after some debate, I went ahead and pulled the trigger to upgrade my 7 year old iMac Pro to a new Apple Studio M2 Ultra. I got it on sale through Micro Center, but it still set me back $3500 or so ($3800+ after sales tax, really). And for that, I still don't get more than 1TB of storage in the thing, with no way to add any more internally. I was forced to spend even more to upgrade a Focusrite Sapphire audio recording interface that is still in great condition, because Focusrite decided to no longer support the M series Macs with driver updates for it.
To be honest? I feel like I only did this because I was "all in" on the Mac ecosystem for so long and I really didn't feel like hassling with things like all my calendar/schedule stuff in iCal/iCloud having to go elsewhere, and losing things like iMessages coming straight to my desktop client if my phone isn't handy.... I needed a "fast" machine to work with and still keep all those MacOS specific things I was used to. What I didn't really get is a computer I could get excited to own, that felt demonstrably "better" than the competition in some way. That's where Apple is slowly dying.... Way too concerned with the phones, tablets and Internet connected services.
Another solid quarter from Apple, but I guess people with a bone to pick against Apple are going to outrage regardless.
If Apple doesn’t do well, that’s because they are no longer innovating (never mind that this forum’s definition of innovation extends to products such as folding phones which don’t sell).
And even when Apple does perform well, they are still no longer innovating because whatever Apple does magically does not fall under their their extremely narrow definition of what constitutes innovation).
At some point, you realise that there is just no pleasing some people.
If Apple doesn’t do well, that’s because they are no longer innovating (never mind that this forum’s definition of innovation extends to products such as folding phones which don’t sell).
And even when Apple does perform well, they are still no longer innovating because whatever Apple does magically does not fall under their their extremely narrow definition of what constitutes innovation).
At some point, you realise that there is just no pleasing some people.
Sure, from a smaller base. They're up where they were 12 months ago when they had just lost 3/4ths of their value.
They're not a tenth as profitable as Apple is. They're losing a ton of money on what they imagine the future of the business to be. They're quite profitable reselling the data they steal, but they can't seem to find a business when their inputs have cost.
They named their company after the Metaverse, and their metaverse business is losing $4.65 billion dollars a quarter.
Meta is not up about 245% in last 12 months taking into account after hours today, it's more like 140%.