It looks like Apple did indeed take advantage of the suppressed stock price and buy back a lot of shares in the quarter. Between January 18th and the end of the quarter its outstanding share count dropped by about 108 million.
Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Apple Reports 2Q 2019 Results: $11.56B Profit on $58B Revenue as Services Revenue Hits All-Time High
- Thread starter MacRumors
- Start date
- Sort by reaction score
A suggestion... I would love to see the progress graph with the services revenue on the bottom, since ostensibly that should be the least affected by quarterly swings. It would make it a lot easier to see the growth.
Tree of the best Apple products I have bought over the past five years have been the Apple Watch, new iPad Pro and Airpods. Where they are innovating, Apple is doing really well.
Err... how is 58 in the middle of 55-59? Stock up 4%, these are better results than people expected in part helped by some price changes reflected in gross margins.
You can't compare q/q with the seasonality of AAPL. You're looking at it wrong if you do. Tons more services are sold in Xmas quarter, if for no other reason that more AppleCare on higher units for Christmas.
Doesn't services include Apple Care? That will peak during the December quarter as most new phone sales are during that time.
Apple has new hardware coming at WWDC.
Timmy wouldn't have said "We're looking forward to sharing more with developers and customers at Apple's 30th annual Worldwide Developers Conference in June."
Timmy wouldn't have said "We're looking forward to sharing more with developers and customers at Apple's 30th annual Worldwide Developers Conference in June."
More on the high end of their guidance at $58.05B.
The iPhone X was a hard compare for iPhone sales as it was supply constrained and bled over into calendar Q1 of 2018.
Services up 16%, wearables up an amazing 30%, and iPad up 20%.
Is this what being doomed looks like? If so, I'd like to be doomed too.
Buying it in the $140's was the right move for anyone that had the money and the insight. It's above $210 in after hours...
Nice spin.
Since when is $58 "right in the middle" of $55-59? Maybe my math is wrong, but it seems like it's closer to the high-end, as opposed to being in "right in the middle".
A 5% decline from their best quarter in company history is hardly concerning.
Which is good for the long-term growth and price of the stock going upwards. Services will become a juggernaut and tied into the macOS/iOS/tvOS/watchOS ecosystem.
[doublepost=1556658244][/doublepost]
There are a lot of ignorant people. Apple is becoming a multi-tier hardware and services global leader.
And growing in India. Soon, China won't have the leverage it currently holds as India expansion is just beginning.
In that case, Apple are being disingenuous, as AppleCare is not what most people would call services. It's an extended warranty.
I would argue that it is more accurate to look at the quarterly comparison for services, as they don't have the same cycle as hardware.
China's feeling pretty nationalistic with the worldwide growth of their brands, so that's not too surprising.
they won't "sell" hardware, it will be a service! Subscribe monthly and get all the best devices updated every 12 months. It's the best way to own apple products and we think you are really going to love it.
Services also includes some of the revenue from device sales. Apple estimates the value of the free services which it provides (e.g. iCloud and Siri) and defers that portion of the revenue from device sales to be amortized over a period of time, and accounted for as Services revenue. But because that revenue is amortized over time, it shouldn't be as (seasonally) cyclical as Products revenue.
They do if AppleCare is included in services. Write Tim Cook if you don't like how it's bucketed, but that's how it's done.
Except when the experience degrades due to Apple focusing on up-selling services. I don’t want to get push notifications and ads in settings trying to upselling me on services.
Apple's A13 will still be a 7nm lithography. However it will be made using EUV technology, more accurate.
Everything else, I agree. This is the time for the iPad to shine.