Apple Reports 3Q 2023 Results: $19.9B Profit on $81.8B Revenue

[512ke]

At quarter’s end, Apple had a stash of $166 billion of cash on its balance sheet. After accounting for about $110 billion in debt, net cash totaled $57 billion.

Owners of Apple stock have been the biggest beneficiaries. The company has returned nearly $732 billion to its investors through share buybacks and dividends since the start of 2013. In that time frame its stock price has soared 952.5%, compared with 180.4% for the Morningstar US Market Index.

 

[CarAnalogy]

Given my age and experience living and studying the eras you mention, I will ask for some explanation of how you make the comparison to LBJ. It does not seem to hold water.

Yeah probably not the best comparison. Just in that he succeeded someone very popular and then made some unpopular decisions.

 

[cosmichobo]

So Apple just made 25% gross profit... But it's the workers of the world who are to blame for inflation.

 

[Chazak]

Yeah probably not the best comparison. Just in that he succeeded someone very popular and then made some unpopular decisions.

In that sense I understand your comment. Thank you for the explanation.

 

[DanVM]

I basically agree, my point is, if you feel locked in, it is because for you specifically, the alternatives are worse If you have use cases where the alternatives are better, what’s stopping you other than your desire to enjoy the great user experience of Apple? If anything you have lockin the other way round - there are lots of things you can do with Android and Windows that you cannot do with Apple, so for many it is not an option to go with Apple. I can’t choose Apple for my work computer, for instance. Lockin is not unique to Apple, and it is fighting against it just as much as benefitting from it.

One reason people may feel locked in with Apple is Messages / iMessage. A lot of customers won't change platform because of it. For example, friends and family use iMessage and the experience will break with an Android device. And it looks like Apple is aware of it, considering their negativity to open to integrate to other messaging platforms.

Another reason is the investment customers have in apps. There are people that for years have a long list of purchased apps, and they don't want to invest again in the same apps just to be in a different platform.

I suppose there could be more reasons. But at the end, there are genuine cases where people are locked with Apple (or any other platform), and not necessarily because Apple is the best experience and alternatives are worse.

 

[edubfromktown]

One reason people may feel locked in with Apple is Messages / iMessage. A lot of customers won't change platform because of it. For example, friends and family use iMessage and the experience will break with an Android device. And it looks like Apple is aware of it, considering their negativity to open to integrate to other messaging platforms.

Another reason is the investment customers have in apps. There are people that for years have a long list of purchased apps, and they don't want to invest again in the same apps just to be in a different platform.

I suppose there could be more reasons. But at the end, there are genuine cases where people are locked with Apple (or any other platform), and not necessarily because Apple is the best experience and alternatives are worse.

I switched to an Android mobile phone a few years back when the Pixel 4a was released. Hasn't broken any comms with others on iPhone whom I interact with.

The only real pain is when someone texts a pindrop from Apple Maps. It has been totally inaccurate in the past with Google Map links opened on Android. Dunno if they "fixed" that one yet.

I do not miss iPhones at all and happily use Multiple Mac's with no care about not being completely hog tied into their ecosystem.

 

[DanVM]

I switched to an Android mobile phone a few years back when the Pixel 4a was released. Hasn't broken any comms with others on iPhone whom I interact with.

The only real pain is when someone texts a pindrop from Apple Maps. It has been totally inaccurate in the past with Google Map links opened on Android. Dunno if they "fixed" that one yet.

I do not miss iPhones at all and happily use Multiple Mac's with no care about not being completely hog tied into their ecosystem.

When I used the term "break" I was talking about missing functionality. For example, you lose encrypted messages, and also image quality in videos and pictures. Even the green text bubble has an effect on young customers.

Why Apple’s iMessage Is Winning: Teens Dread the Green Text Bubble - WSJ

At the end, it looks like iMessage is one of the reasons people won't change platform. It maybe not your case, but it is for others.

 

[_Spinn_]

Crazy to think that the iPhone makes up almost half the chart.

 

[Steve121178]

Please show data to support this. (Spoiler: you can’t, because you’re wrong).

Apple feels the bite as Mac shipments fall 40.5%

As economic malaise tanked global shipments for all major PC manufacturers in Q1 2023, Apple was worst affected of the lot, according to IDC.

www.computerworld.com

"Apple Mac sales decline 40.5% YoY
In its latest PC market share report, IDC confirmed a significant decline across the global PC industry. “Weak demand, excess inventory, and a worsening macroeconomic climate were all contributing factors for the precipitous drop in shipments of traditional PCs during the first quarter of 2023 (1Q23),” the analysts said."

This was widely reported months ago. Where have you been?

 

[Steve121178]

No they haven’t. They have become out of reach for you. Apple’s market share in Europe is up, not down.

Who said it's out of reach for me? I've bought one.

Sales are down.

 

[I7guy]

Fun fact: at the end of Tim Cook career as Apple ceo he will not have released a single product half as successful as iPhone, iPad, or Mac which were all released under jobs.

The above fact is way less fun that that if the services revenue.

 

[sideshowuniqueuser]

"...we are continuing to advance our values..."

Terrifying.

 

[Jay Tee]

How Apple did versus Refinitiv estimates:

• EPS: $1.26 vs. $1.19 estimated
• Revenue: $81.80B vs. $81.69B estimated, down 1% year-over-year
• iPhone revenue: $39.67B vs. $39.91B estimated, down 2% year-over-year
• Mac revenue: $6.84B vs. $6.62B estimated, down 7% year-over-year
• iPad revenue: $5.79B vs. $6.41B estimated, down 20% year-over-year
• Other Products revenue: $8.28B vs. $8.39B estimated, up 2% year-over-year
• Services revenue: $21.21B vs. $20.76B estimated, up 8% year-over-year
• Gross margin: 44.5% vs. 44.2% estimated

Apple now has $166.5 billion in cash on hand, up fractionally from the $166.33 billion they reported having last quarter, and they're still only paying a $0.24 per share dividend? Raise the dividend, or give a one-time large dividend payout like Costco does.

As with any Apple product, if you don't like it, don't buy it.

 

[maxoakland]

Who cares ? What we want from Apple are polished tools to do our work, and Tim's delivered on that front !

I disagree. I think the level of polish in software, especially Mac OS, has gone down and continues to slide. He’s not a good steward of software for Apple. Sometimes I wonder if he ever even uses it

 

[Jay Tee]

I disagree. I think the level of polish in software, especially Mac OS, has gone down and continues to slide. He’s not a good steward of software for Apple. Sometimes I wonder if he ever even uses it

This is interesting. What are your specific grievances with MacOS ?

 

[maxoakland]

This is interesting. What are your specific grievances with MacOS ?

Mainly a general lack of polish, small bugs, and weird or awkward UI decisions. Like bringing things from iOS that don't make sense on a mouse-driven interface (System Settings is the biggest offender) and forcing fullscreen into the green button when it was cool that it used to set the window to the perfect size for the content