I’ve been waiting for these numbers for 3 months, obsessing over them. Faggots online have been focused on the wrong stats — iPhone sales. Not indicative of global growth anymore. People already have cool phones. Now they want services. This is no different from the fiber rollout of the late 90s, or the rail layouts of the 1880s.
The infrastructure for mobile devices has already been laid out; now Apple is rushing towards services.
Broad strokes:
Company expects paid subscriptions to surpass 500 mln in 2020 (currently 390 mln).
Mac revenue decline was driven by processor constraints.
iPad revenue returned to growth in China.
Continues to expect annual increases in dividends.
Tim Cook feels results are positive in light of currency movements. Results would have been 200 basis points better in constant currency.
Best quarter ever for services.
iPad revenue growth rate was highest in 6 years.
Wearables business is now the size of a Fortune 200 company.
Yr/Yr performance in China improved relative to the December quarter.
Declines in iPhone revenue were “significantly smaller” in the final weeks of the quarter.
Active install base continues to grow in each geographic segments.
Reached 390 mln paid subscriptions, an increase of 30 mln qtr/qtr.
Apple prelim Q2 $2.46 vs $2.36 S&P Capital IQ Consensus Estimate; revs $58 bln vs $57.40 bln S&P Capital IQ Consensus Estimate; sees Q3 revenue $52.5-54.5 bln vs. $52.09 bln consensus
And here is the kicker:
Apple reports Q2 services gross margin of 63.8% vs 60% ests
Those margins are incredible, likely driven by the high margin aspect of services. Apple is now quickly moving into a higher margin business segment and nothing about these numbers speak slow-down.
The stock is higher by 5% in the after-hours and it cements the idea that things have gotten better and continue to get better, as evidenced by a pick up in iPhone sales towards the end of the quarter.
Remember I told you what their parts marker said back in February. Those comments by Amkor have been prescient. New record highs here we come.
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Retarded people continue to buy internet shit bc we all want to be soooo connected. Hoo-fucking-ray bitches. Today a guy at work cut his finger and someone w an iphone joked about calling 911 and then we got a fucking call back from 911 asking if everything was groovy. What in the actual fuck?! Fuck off Tim Apple I’m over it
Fake numbers. IPhone sales down again. China revenues down huge. Service growth isn’t enough to offset declining sales numbers
Even if the numbers are not fake, they are SHITTY and should
have sent this overpriced piece of shit stock DOWN 20 points.
The fiber roll-out started before the 90s. Saw it advertised in a National Geographic or something in the 70s. Business and technology for the masses just wasn’t ready for the changeover, Hard to believe in something, except for the very few exceptionally gifted with distant foresight, before one has a practical use.
Oh, so they put it into Christmas Trees and art installations. Artists can be extraordinary.