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 3Q 2023 Results: $19.9B Profit on $81.8B Revenue
- Thread starter MacRumors
- Start date
- Sort by reaction score
Possibly but that can depend on how much of the (rumored) price increase is added profit and how much it may impact total unit sales.
Just like Meta is investing everything into VR, Apple has its hopes for the future based on Vision Pro being the next iPhone. If it fails, the long-term outlook is not so rosy. Now, I think Vision Pro will succeed massively. But so many people here disagree. The only number Apple improves on quarter after quarter, year after year is based on services. Something has to make up for the lack of iPad, iPhone and Mac prosperity. Better be Vision Pro.
I see Tim raping the company of all its resources. Taking as much as he can year after year. Selling the future for right now. It’s a major problem in public corporations. That’s why need someone who doesn’t care about the money in charge. Like Steve Jobs. Apple would have a much more secure future if they had gone with Scott Forestall and Jon Ive as their strategy moving forward versus Tim Cook. The MacBooks have gone backwards in every phase except SoC. That also was about money. Think we need a massive notch on our MacBooks? What about outdated SD cards and HDMI that didn’t have the same bandwidth as Thunderbolt. Thicker when they now don’t need to be to support legacy ports. I know I am not in the majority here, but I don’t care. All I care about as a user and investor is getting Tim Cook out and moving forward with someone who understands the technology inside these Apple products instead of a money now versus selling soul to devil for a company with no vision later.
This is why Apple gimped the base models of M2 and will probably continue to do so with M3.
Ballmer was largely laughing at the iPhone launch prices and was right to do so as in less than three months, the prices were reduced 33% to 40%.
Always amazes me that the iPad revenue is so close to the Mac revenue.
It‘s impressive how much we are overpaying for Apple products in the end is what it means
$200 for 256GB more storage which is nuts.
You'll have to explain how a company having billions in cash on hand vs having less cash on hand will make them reconsider laying people off?
When Meta (Facebook) reported earnings in Oct 2022, they said they had $41.78 billion in cash on hand at the end of Sep 30, 2022. When Meta reported earnings last month, they said they had $53.45 billion in cash on hand at the end of Jun 30, 2023.
So, between Sep 30, 2022 and Jun 30, 2023, Meta's cash pile increased by $11.67 billion yet they've layed off over 20,000 employees since November 2022.
Meta their reality lab division is where losses were generated as they have been focussing on the Metaverse. So that is where people could have been laid off.
And tech companies were simply hiring too many people due to the pandemic which caused a boom in tech as everybody was stuck at home. When the pandemic was over, the demand for tech decreased which lead to too many people employed in tech companies and many tech companies announced mass layoffs as a result of this.
Musk is way better. He's a visionary and he listens to customers. Tim Cook is a bean counter and top notch financial engineer (which is great for shareholders but not for customers).
Last edited:
Indeed. Under Steve Jobs, Apple was the innovator and Samsung was the follower.
Now Apple is the follower and Samsung is the innovator.
Apple now simply watches what Android phones do, and then copy all those features a few years later.
And if Apple comes with something new themselves , aka, dynamic island, it’s not even good.
But Tim Cook is very good at keeping the company operating in a good manner.
You completely avoided answering my question.
Hiring and firing isn't determined by how much or little cash a company has on hand.
Last edited:
It went from "Think Different" to "Think reusing old parts in new releases to maximize profits while innovating (and risking) as little as possible." It's like Marvel movie universe doing I, II, and III sequels until the well runs dry after End Game. This is Apple's End Game.
Booya Apple!![]()
Apple today announced financial results for its third fiscal quarter of 2023, which corresponds to the second calendar quarter of the year.
![aapl-3q23-line.jpg]()
For the quarter, Apple posted revenue of $81.8 billion and net quarterly profit of $19.9 billion, or $1.26 per diluted share, compared to revenue of $83.0 billion and net quarterly profit of $19.4 billion, or $1.20 per diluted share, in the year-ago quarter.
Gross margin for the quarter was 44.5 percent, compared to 43.3 percent in the year-ago quarter. Apple also declared a quarterly dividend payment of $0.24 per share, payable on August 17 to shareholders of record as of August 14.As has been the case for over three years now, Apple is once again not issuing guidance for the current quarter ending in September.
![aapl-3q23-pie.jpg]()
Apple will provide live streaming of its fiscal Q3 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 recap ahead...
Click here to read rest of article...
Article Link: Apple Reports 3Q 2023 Results: $19.9B Profit on $81.8B Revenue
Revenue and profits down on the same quarter last year despite products costing more.
One would think that after being on the market for more than ten years, the iPad would have already found its place. Makes me think it's not a problem with the iPad but with lack of strategy / vision by the division in charge of this device.
I’m still trying to see what is the “problem with the iPad”. It’s an extremely successful device. Could it be even more successful? Yes, but no one has come close to a strategy / vision like iPad’s in the tablet market, so it’s safe to assume it’s not easy.
Bottom line: Apple is still winning, customers are winning, and we're all making the world a better place in this truly human Apple ecosystem.
My 27” 2019 Core i9 iMac works just fine, my 8GB/512GB 13” M1 MBP is still going strong and I’ve got some back up Intel 15” MBPs if I need to tinker around and so M2 is a non-starter for me even though M3 is still 7-9 months away. My iPhone XR, though, is finally in need of replacement, I think. Got a killer deal on a 5G 16GB/1TB 12.9” iPad Pro and an iPad Air 4 so I’m set on iPads for the next 5-6 years. I would like a Series 9 watch to replace my Series 3 but the jury is still out on that one until apple announces it.
Most of Apple’s cash is overseas and, due to the arcane and asinine IRS tax code, would incur heavy taxes if brought to the US.
So the cash stays in Europe and Asia earning interest. Meanwhile, Apple can use that cash to secure ridiculously low interest rates to borrow money, which they use to buy more stock, which raises the stock price, which makes the executives and major shareholders very happy and very rich, which raises Apple’s reputation in the business world, which helps them sell more products, which brings in more high profits, which they use to get low interest rates, which they use to borrow money, which they use in the stock buyback, which raises the stock price even more, which makes the rich even richer.
How’s that for a run-on sentence. They do a lot of things right, but this stock price buyback scheme is something that Steve Jobs refused to allow and was only implemented after his untimely departure.
Last edited:
TheYayAreaLiving 🎗️
Suspended
I think iPhone sales could have been recovered if Apple had not eliminated the iPhone Mini.
Apple also did not release a new seasonal color for the iPhone Pro Line up either this year. Thus, hurting the iPhone sales. The Yellow iPhone was not enough!
Apple also did not release a new seasonal color for the iPhone Pro Line up either this year. Thus, hurting the iPhone sales. The Yellow iPhone was not enough!
HobeSoundDarryl
macrumors G5
The answer is fairly complex.
As I understand it and in very simple terms: a lot of the profit "reserve" is offshore. To bring it into America involves paying some corp taxes, so Apple leaves it offshore. While debt was cheap (until rate hikes fired up), Apple opted to borrow near free money to pay dividends and buy back shares, the latter of which further boosts the price of the stock. Many corporations did the same and this is partially what has fueled the bull market (not huge volumes of real individual buyers of stock but companies taking on cheap debt to buy back their own shares). Now that debt is not so cheap, Apple (and many other corps) may adjust the approach of borrowing so much.
The short answer: Apple is working within the law to maximize profit and minimize taxes... just like many other companies. Sometimes it makes more sense to carry huge debt than use earned cash reserves, even when you have much more than what you owe.
Behind the scenes, this cuts Wall Street bankers (the lenders) into the Apple Cash machine. Those tentacles always find a way to take a little bite out of everything. Jobs was anti-debt and Apple could be anti-debt (keeping the bankers OUT of the cookie jar) but apparently the net of cutting them IN maximizes profit for Apple Inc.
Someone correct any of that if my understanding is wrong.
I don't think a billion customer "want" to use Apple services. For example, Apple won't allow to backup you iPhone / iPad with 3rd party services, so you are forced to subscribe to iCloud.
And if we compare Apple services to their competition, most of the time they are behind. For example,
Apple TV+ is behind, Netflix, Disney+ and other subscription services.
Apple Music is behind Spotify, and Amazon Music is close behind Apple
Apple Arcade is behind Sony and MS gaming services
iCloud is behind Google and MS cloud services
And I don't think that Apple News and Fitness+ are strong services for Apple, at least from what I have read.