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Apple Reports 2Q 2023 Results: $24.1B Profit on $94.8B Revenue, New March Quarter Record for iPhone Revenue
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TheYayAreaLiving 🎗️
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Agreed! When it comes to money it's impossible to outsmart Tim Cook. Waiting for the day when Tim Cook will have his own currency.
Wow Mac sales are not going well at all in this quarter.
I think a lot of people are either confused or anxiously waiting for upcoming models, Apple is slow to roll them out. Mac Pro is late, iMac with M2 is skipped, Mac Studio is a big question mark, ...
I think a lot of people are either confused or anxiously waiting for upcoming models, Apple is slow to roll them out. Mac Pro is late, iMac with M2 is skipped, Mac Studio is a big question mark, ...
M3 or maybe M4 will have an upgraded Neural Engine that can run language models on device completely privately.
You can build one and run one now on device but with a better NE chip it will be much faster and sip less energy.
All PC manufacturers are going back to normal pattern after a temporary covid bump.
Maybe you are right and maybe you are wrong. Maybe all the big institutional investors are sitting and waiting and don’t care about the current price. I was involved in an fda approved study about 23 years ago. A diabetic study. Non-invasive blood glucose study. They were shooting RF signals into my arteries n then pulling my capillary blood and comparing the two. If Apple can get noninvasive blood glucose on the watch, then it will drive additional revenue $100 billion a year for 4 to 5 years. There’s anywhere between 600 million and 1+ billion people that will immediately buy the new watch. It’s a game changer aka quality of life changer!
It's natural that Mac sales would decline in the last quarter compared to a year ago. The PC market declined alongside that.
But I'm unclear about why selling BILLIONS of anything is awful, rather than simply less optimal.
Given the surge in $services$, which cost Apple far far less to sell, it's still a positive change.
But I'm unclear about why selling BILLIONS of anything is awful, rather than simply less optimal.
Given the surge in $services$, which cost Apple far far less to sell, it's still a positive change.
Their financial numbers are mind-boggling. They lost a few billion dollars. And yet they expected that, and they can deal with it, since it's "only" three percent. Interesting that iPhone sales grew as a percentage of their sales. I thought they would have continued to shrink their reliance on that.
I was stunned by their paid subscriber numbers. Next quarter they'll probably hit 1 billion!
I was stunned by their paid subscriber numbers. Next quarter they'll probably hit 1 billion!
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The US has been in a Recession since 2020. The Federal Govt printing money to keep the economy from cratering is now slowing down to counter act the accelerated inflation rate.
The company surpassed all targets. Apple increased R&D by $1.1 billion. Now up to $7.457 billion for the quarter. In short, Apple is now headed towards $30 billion annually in R&D. R&D is written down for the most part. Wall Street knows this. Earnings per share were the same as last quarter.
All of this during the Fed raising interest rates 10 times in the past year. Buy backs and Dividends are $90 billion. If you can't see how Apple keeps strong quarter over quarter I can't help you.
They generate over $420 billion annually in revenues. And over $100 billion annually in net profits.
Their sales dropped in Japan and China both whom are in recessions and China was shut down for most of the year. Sales increased in Europe and dipped some in the US.
All of this during global supply chain constraints. All of this while retooling large portions of their manufacturing outside of China.
They did what no other company could.
Don't forget, they are driving Fab development back in the US.
With how the world works i dont expect mac to ever gain the share windows has... Theres a more to it than OMG APPLE THIS AND APPLE THAT. But I don't believe this mac slump is with mac specifically and is a market wide thing for the entire segment.
Like I don't see mac every taking over windows because of specific effects with the market and the move to more of a tablet push for apple onto its users for content consumption.
I would love to have seen Tim come out from this earnings call with a "just one more thing, moment!" Guys here's your new 15 inch Macbook Air that you've been waiting for. That would have been sweet 😋.
Huh? Recession began and ended in 2020. Shortest recession on record.
U.S. recession ended in April 2020, making it shortest on record
The U.S. recession touched off by the coronavirus lasted only two months, ending with a low point reached in April 2020 after thestart of a sharp drop in economic activity in March of that year, the U.S. Business Cycle Dating Committee announced Monday.
Their pricing is reasonable for the quality of the products. We're in a recessionary economy. People don't have extra money for computers, but can't live without a phone, so phone sales remain strong, particularly given the payment plans provided by carriers. If computers were available under the same easy financing as phones, we'd likely see very different numbers. People are not replacing their computers every year or two, though.
Of course. I am still standing by my opinion that if Mac wasn’t necessary for development, Apple would have killed it. ARM transition is the swan song and last impressive thing Apple has to offer to Mac fans.
Music hasn’t stopped, but right now we are listening to finale of Mac overture.
Remember folks, these companies keep having record profits and even their margins are going up. Remember this when they increase prices because "inflation." Remember this when they say they're doing hiring freezes or letting some people go.
Inflation isn't real in the sense that it's something that is ethereal that is just happening to us. The price is always what the companies say it is. Push back. We need price gouging laws for this crap. And Apple isn't even close to being the worst offender here. Just pointing it out in a relevant thread. There are definitely other companies abusing this. It's time to call out more companies on their blatant BS lies and deceit. We're out here as the working class getting raises that are a fraction of inflation and yet the demon billionaires are hoarding wealth like Smaug.
Inflation isn't real in the sense that it's something that is ethereal that is just happening to us. The price is always what the companies say it is. Push back. We need price gouging laws for this crap. And Apple isn't even close to being the worst offender here. Just pointing it out in a relevant thread. There are definitely other companies abusing this. It's time to call out more companies on their blatant BS lies and deceit. We're out here as the working class getting raises that are a fraction of inflation and yet the demon billionaires are hoarding wealth like Smaug.
100%. It’s even worse at the grocery stores. Disgusting. 20% gets you a body wash and travel size shampoo.
Apple today announced financial results for its second fiscal quarter of 2023, which corresponds to the first calendar quarter of the year.
For the quarter, Apple posted revenue of $94.8 billion and net quarterly profit of $24.1 billion, or $1.52 per diluted share, compared to revenue of $97.3 billion and net quarterly profit of $25.0 billion, or $1.52 per diluted share, in the year-ago quarter.
Apple set a new all-time record for Services revenue at $20.9 billion and a new March quarter record for iPhone revenue at $51.3 billion, but the Mac in particular saw a significant year-over-year decline in quarterly revenue, falling from $10.4 billion to $7.2 billion.
Gross margin for the quarter was 44.3 percent, compared to 43.7 percent in the year-ago quarter. Apple's board of directors also authorized an additional $90 billion for share repurchases and declared an increased dividend payment of $0.24 per share, up from $0.23 per share. The dividend is payable May 18 to shareholders of record as of May 15.As has been the case for three years now, Apple is once again not issuing guidance for the current quarter ending in June.
Apple will provide live streaming of its fiscal Q2 2023 financial results conference call at 2:00 p.m. Pacific, and MacRumors will update this story with coverage of the conference call highlights.
Conference call starts at 2:00 p.m. Pacific - No need to refresh
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Article Link: Apple Reports 2Q 2023 Results: $24.1B Profit on $94.8B Revenue, New March Quarter Record for iPhone Revenue
Dividend up one penny. From $0.23 to $0.24 - Sheesh. I think this is a mistake - Dividend should be higher! I'll pay the tax. Share buybacks did not seem to help the share price somehow over the last years. Pay us more dividend I say!
$90 Billion share buyback. Yes it's great. In theory. Apple has swallowed up a good percentage of their own shares in the last 6 years or so right? Like more than 30% of the shares have been absorbed already? Somehow the rarity of Apple shares on the market should be boosting the share price a lot more - yet it still is such a volatile stock and treated so poorly by Wall Street "experts".
AAPL deserves to be over $200. Let's Go!
What types of apps are you lacking? (Just curious, I've released at least 3 dozen Mac apps.)
And most importantly many people with M1 Macs are already satisfied with their performance.
They don’t have to gain the share. Apple makes lot of money from Mac, they will continue to invest in Mac line up for power users. iPad line has its own niche.
Yep.
Hat tip to Tim Cook recognizing years ago hardware would eventually get to a performance level causing people to hold out longer on updates. While services continue to grow and help fill the gap.