Posted on 02/01/2018 1:53:23 PM PST by Swordmaker
Apple today announced financial results for its fiscal 2018 first quarter ended December 30, 2017. The Company posted quarterly revenue of $88.3 billion, an increase of 13 percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $3.89, up 16 percent, also an all-time record. International sales accounted for 65 percent of the quarter’s revenue.
“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO, in a statement. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”
“Thanks to great operational and business performance, we achieved all-time record profitability during the quarter, with EPS up 16 percent,” said Luca Maestri, Apple’s CFO, in a statement. “Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through our capital return program.”
Apple is providing the following guidance for its fiscal 2018 second quarter:
Apple’s board of directors has declared a cash dividend of $0.63 per share of the Company’s common stock. The dividend is payable on February 15, 2018 to shareholders of record as of the close of business on February 12, 2018.
Thomson Reuters consensus estimate expected earnings of $3.86 per share, revenue of $87.28 billion, and Q218 revenue guidance of $65.73 billion. StreetAccount expected Q218 margin guidance of 38.9%. FactSet expected iPhone unit sales of 80 million
I totally forgot about that product. That was pre-Apple when they were searching for a product. That an illegal device for stealing phone calls from the phone company. Probably wouldn’t have had as much world-wide demand as Apple has today.
My wife and I have several rotary phones around the house, although not as vintage as yours. Yeah, kids can’t believe we used those things to make calls. Most people don’t have land lines anymore, we decided to keep ours because if cellular services go down the land line continues to work, even without power. I like collecting and keeping antique gadgets. Steve Jobs motto was to look forward, never backward so Apple never kept old stuff. Probably why they’re successful. (I am, but wife is after me to dump the old stuff, sigh.)
We bought ours new in 1983. It was made to look old. Pretty clever what they did. We no longer have it on the wall, but I saved the phone. Our oldest kid is interested in using it — everybody loves retro stuff these days.
Living in a one-story ranch house with no basement forced us to keep stuff to a minimum. Even with that diligence, I can’t get my cars in the garage. The common problem here in CA.
No.
True! My oldest daughter and her husband love retro stuff, 1940s through 1960s. One item my son-in-law acquired is a vintage AT&T phone in a wooden box. He left it with me to refurbish it, as I do carpentry and electronics. They moved to Iowa from SF, and I need to ship it to them along with other stuff I held for them (neon bar lights, etc.) They had an apartment here, I have space in my home. In Des Moines they bought a huge building for a fraction of what a tiny house in CA costs, so they have lots of space now. I promised to send him a 1997 TAM computer because they love it (Mac computer with Bose woofer, built-in stereo & TV & DVD). I have several, one in my living room for great sounding music. I like old stuff, have lots. When I go, I hope my kids keep the stuff.
ROFL. My condolences to those shorting AAPL. ;-)
“Well, when you sell $100 item for $1000 to millions of morons, you should do good...”
What $100 item would that be? The iPhone X is more like a $700-800 item when all costs are accounted for. The raw materials alone are almost $400.
Funny that you’re calling others “morons” when you’re so far off base...
Nice looking phone. Ours didn’t have the dial thingy, however.
From: https://www.macobserver.com/analysis/iphone-x-get-ready-much-like/
The iPhone Average Sellings Price (ASP) went from US$695 last year to $796.
Tim Cook pointed out that the driver this quarter in Apple revenue growth was the iPhone.
The iPhone X was Apple’s #1 selling iPhone every week, from the launch in November through January.
Tim Cook said that the iPhone X would “set the standard” for the next decade.
Apple Q&A:
Olson: When you think conceptually about the path for iPhone X style devices going forward, is there any reason the roadmap wouldn’t consist of multiple device as we’ve seen with past iPhone upgrades?
Cook: … as we said at launch, we were setting up the next decade … that’s the reason it’s chock full of incredible innovation. So you can bet that we’re pulling that string.
As of 2017 Q1, the standings were Android 85.0%, iOS 14.7%, Windoze 0.1%, others 0.1%.
Android is based on Linux. iOS is based on BSD Unix. Either way, Unix reigns supreme.
I posted the notes of the entire conference call, including the Q&A afterward, but some Admin Moderator decided it was not "news" and was "product promotion" and pulled the thread instead. Strange, multiple tech news sources thought it news worthy enough to have their own reporters publish their own line by line notes on the same conference call on the greatest financial quarter turned in by any company in Wall Street history to show how an American capitalist company did it, but FR decides it’s not news.
“As of 2017 Q1, the standings were Android 85.0%, iOS 14.7%, Windoze 0.1%, others 0.1%.
True but 85% of profit is Apple
Most stocks are down today. Back up next week.
Apple Inc. (AAPL)
Nasdaq GS - Nasdaq GS Real Time Price. Currency in USD
In watchlist
163.60-4.18 (-2.49%)
The story that Swordmaker has posted came out immediately after the announcement and put a very positive spin on the numbers. Unfortunately, the ones who have been getting a kick in the stomach this morning are Apple investors. The stock took an immediate 2.5% tumble at the opening bell. No bounce has occurred and as of 12:50 PM EST the stock was still skittering off the lows for the day with slightly greater than a 3% drop.
Overnight most analysts discovered that they were not very happy with the contents of the report. Apple has received some downgrades and as a result even the bargain hunters have been unable to bring the numbers back up.
These investors are being stupid. . . Apple's 1st Quarter numbers are extraordinary. They are a HISTORIC RECORDS! . . . This is the best, most profitable, highest revenue quarter ever reported BY ANY CORPORATION IN HISTORY!
But these investors can not see beyond the anal-cysts who are looking only at unit numbers for MARKET SHARE and NOT PROFIT SHARE, and are thereby misleading the investors who should be focusing on PROFIT SHARE, not market share which is lead by companies competing on price in a caucus chase to the bottom of the barrel with ZERO PROFITS and even posting losses.
By only comparing like quarter to like quarter based on UNIT SALES NUMBERS, without telling them the underlying facts that last year's quarter was not like this year's quarter, these anal-cysts and reporters are providing disservice to their readers.
Last year's quarter had a full FOURTEEN WEEKS OF SALES while this year's quarter had only THIRTEEN WEEKS OF SALES. In addition, Apple Average Selling Price of iPhones has moved upward from $697 to $797, a full $100 more in that quarter. Both of those facts makes HUGE DIFFERENCES when those quarters are compared as being "equal" because they are NOT EQUAL. There was 7.7% more time for selling products last year than there was for selling this year. That makes a big difference if you are going to be comparing like-for-like. . . and making a judgement on comparable value. This year's gross revenue of $88 Billion earned in a shorter quarter was 13% greater than the gross revenue of $78 billion earned earned in the one week LONGER quarter last year on essentially about the same unit sales. That is what they SHOULD be focused on rather than the 900,000 fewer iPhones sold at a higher price than the previous year at a lower price. . . in one week less time, especially when Apple averages selling almost one million iPhones PER DAY!
Let's make that adjustment:
Adding 7.7% to the figures actually produced in the 1st fiscal quarter of this year to make it comparable to the 1st fiscal quarter of 2017 (essentially making them equal in length), provides the following data: A fourteen week quarter would have provided 83.25 million iPhones, 14.18 million iPads, and 5.5 million Macs, and gross revenues of $94.8 Billion in comparison. . . all of which would have been huge increases.
Secondly, Apple's guidance was far exceeded on the quarter. . . but the blue-sky wishes of the anal-cysts were absurd. . . and not made by Apple. Then, because Apple did not guide ridiculously high for the 2nd fiscal quarter of 2018, instead guided a whopping 20% year-over-year INCREASE over last year's $51 Billion quarter, yet these same ignorant ANAL-CYSTS are dumping on Apple. Why? Because they wanted a guidance of more than 30% increase YoY over last year! That is patently insane, fireman15.
If Apple HAD guided for the 30% and then not meet it come April when they have the next Financial reports, they'll be really dumping all over Apple. There is really no winning with these people.
Your guestimate numbers from 2 days ago were surprisingly close to the mark but didn’t meet some analysts expectations and projections. So is this approximately 3.5% drop in Apple stock today after the announcement and now approximately 10% correction in the last two weeks a major buying opportunity? Just watching Cavuto on FOX Business. Apple is their topic of discussion at the moment. They said it is Apple’s lowered projected income that is tanking them this morning.
$1,000 phone
I’m looking at it that way. . . the MSM is bloviating about the overall drop in the market going down 666 points. Besides being the number of the beast, it’s a drop of only 2.4%! That’s not even a BLIP! AAPL is down a bit more.
The anal-cysts are doing simplistic comparisons of Apple’s last quarter to last year’s same quarter and saying the iPhone sales dropped. The only problem is they’re not comparing equal time period of sales. Last year’s quarter had 14 weeks, 98 days. This year had only 13 weeks, 91 days. The anal-cysts are claiming 900,000 fewer iPhones sold this year than last year with out telling anyone there was one more week of sales last year. Apple was selling almost 900,000 iPhones per DAY this quarter (5.95 million per week) so had there been an equal 14 weeks, this year’s quarterly iPhone sales would have easily beaten last year’s quarterly iPhone sales by a about six million!
But the anal-cysts couldn’t be bothered to make that adjustment and tell the facts. It doesn’t get as many clicks as "Apple misses on iPhone Sales!"
Then they are calling Apple’s BULLISH 19.6% YoY increase over 2nd quarter guidance of $60-$62 BILLION in revenue (compare $51 billion last year) as very weak in comparison to "consensus," because the anal-cysts wanted 30%!
That’s insanity!
News:
Google
Amazon
Samsung
Microsoft
Product Promotion:
Apple
You got it.
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