Apple on Tuesday announced its fiscal third-quarter results. The company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, down from the $49.6 billion revenue and profit of $10.7 billion reported in the year-ago quarter.
Apple sold 40.3 million iPhones in this quarter, down from the 47.5 million in the year-ago quarter. The company also sold 9.95 million iPads this quarter, down from the 10.9 in the year-ago quarter, and 4.2 million Macs, down from the 4.7 million in the year-ago quarter.
“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” said Tim Cook, Apple’s CEO. “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”
If there is one bright spot for the company, it was in services.
“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to investors through share repurchases and dividends, and we have now completed almost $177 billion of our $250 billion capital return program.”
Apple is totally screwed. Amazon made $0.5 billion in profit and the stock went up 12%. Apple makes 7.8 billion in profit and everyone believes Apple is going out of business. Yes, we all know Apple is having a terrible year and it will never get any better. As an Apple shareholder there’s no point in complaining. This is how Tim Cook is running the company and there’s little anyone can do to change that. I’ll just take my dividends and expect little else. I didn’t even care if the share price dropped to $85 this quarter so Apple could buy back even more shares for the remaining amount they have set aside for share repurchasing. It’s not so bad if Apple’s share price drops but it’s really annoying to read the constant doom and gloom stories about the company. Most companies would be overjoyed to be making the earnings Apple is.
It sounds like you don’t understand the stock market. People buy stocks to make a profit. That usually happens when a company grows or has the potential to grow. If a company keeps making $10B or even $500B profit every single quarter and does not show indication that this will change, its stock is not worthy buying.
Wait a week, until the price bottoms out, then buy and ride that wave to the next quarterly, then sell right before that announcement. Buy low, sell high, the basic fundamentals of stock speculation. Then after the next quarterlies, rinse and repeat.
Who cares what the price does as long as you know when to buy & sell. Apple doesn’t no longer relies on a high stock price to do anything anymore. They are filthy, filthy rich, so get rich off the stock waves dude.
You obviously don’t understand the stock market. Their are growth stocks and value stocks. Growth stocks are for those looking to make a quick buck.. Which at one time Apple was this..
Now that smartphones are a commodity. Apple is transitioning into a LONG TERM investment value stock. Which is very much worth investing in.. As long as they meet guidance and stay relatively solid, it will continue to grow it’s stock value.
It’s ironic really. Apple won’t even need to do better that a previous quarter. They just have to show WS that they understand the market by meeting or exceeding their own guidance. Which is something in the past growth investors tended to ignore because they always wanted Apple to greatly exceed their guidance for massive growth.
Apple is just not something that micro-second growth traders will be interested in anymore.
Which is just fine.
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So, Apple, want to increase Mac sales? Update the freaking Mac Pro and MacBook Pro already!