Apple reported $94.04 billion in revenue for its fiscal third quarter ended on June 28, up nearly 10% from a year earlier and beating analyst expectations of $89.54 billion, according to LSEG data. Its earnings per share of $1.57 topped expectations for $1.43 per share.
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Sales of iPhones, the best-selling product for the company based in Cupertino, California, were up 13.5% to $44.58 billion, beating analyst expectations of $40.22 billion.
One of the advantages of Apple having a range of different products is that there are so many opportunities to convert people to other parts of the ecosystem. If we assume that for most people the iPhone is the entry point, then selling them AirPods is a logical next step, followed perhaps by an Apple Watch. But when it comes time to buy a new computer, or give a tablet a spin, why wouldn’t the Mac or iPad be at the top of the list? And of course, services revenue is a part of the story too.
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Apple doesn’t have a lot of one-time customers, is what I’m saying. And that’s why the boring quarters are soon going to be in the triple digits of billions.
Cook says Apple has already spent around $800 million during the June quarter, which is less than the $900 million that the company predicted in May. “The bulk of the tariffs that we paid were the IEEPA [International Emergency Economic Powers Act] tariffs that hit early in the year, related to China,” Cook said.
It took Apple nine years to sell the billionth iPhone, a milestone the company reached in 2016. This implies that Apple sold 2 billion between 2016 and now — also a nine-year period — marking the product’s growing popularity.
On 16 September 1997, Steve Jobs became interim CEO of Apple. 5,090 days later, he handed the reins to Tim Cook, weeks before he died.
5,090 days after 24 August 2011 is today. The Cook era is now as long as the Jobs renaissance era.
Privacy-focused productivity tool company Proton released a new authenticator app today, allowing users to log in to services using dynamically generated two-factor codes.
RSS offers readers and writers a path away from unreliable, manipulative, and hostile platforms and intermediaries. In a media landscape dominated by algorithmic feeds that aim to manipulate and extract, sometimes the most radical thing you can do is choose to read what you want, when you want, without anyone watching over your shoulder.
On Wednesday, the company known as the Iconfactory admitted it was at a crossroads and was putting up several of its apps for sale due to a lack of resources. While the announcement positioned the matter as a situation where the Iconfactory’s app catalog had simply grown to include too many apps to keep up with and not enough time to do so, the reality is that the business today has no choice but to focus on the apps that offer a better return on investment.
I don't think Apple Intelligence helped the company sell significantly more devices… nor do I think the delay of many Apple Intelligence features caused any notable decrease in revenues.
In other words: meh.
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Thanks for reading.