Posted on 07/21/2015 5:49:11 PM PDT by Hojczyk
The world's biggest technology company said its earned $1.85 a share, beating estimates by four cents, for the three months ended June 27. Sales of $49.6 billion, up 33% from a year earlier, also topped views of $49.4 billion. However, Apple's current-quarter revenue outlook of $49 billion to $51 billion, came in on the low end of the FactSet Research Systems consensus of $50.9 billion.
Apple said it sold 47.5 million iPhones during the quarter, essentially matching estimates. Meanwhile, Cupertino, Calif-based Apple disclosed iPad sales of 10.9 million units, and Mac sales of 4.8 million units, both coming in close to Wall Street forecasts.
Apple shares, which had gained 19% so far this year, tumbled some 7% in extended action.
The stock tumbling despite Apple posting the highest rate of revenue growth in three years, sales in China more than doubling and iPhone sales increasing 59% signaled just how high investor expectation have grown for the world's largest and most successful technology company. Although earnings per share beat analysts' estimates by 2%, Apple had exceeded that target by an average of 10% over the previous four quarters.
(Excerpt) Read more at finance.yahoo.com ...
Hey Sword, over here...
8% selloff in after hours. All the shorts are covering.
When their CEO made the public announcement that he was homosexual (which apparently most people already knew), he was also implicitly announcing that the company had no more Jobs-inspired products and the long decline was about to begin.
#4 The coming iPhone 6s in rumored to be coming out in a pink color. I ain’t making it up!
http://www.macrumors.com/2015/03/10/apple-force-touch-pink-iphone6s/
At least it ain’t “Hello Kitty” pink.
It wouldn’t break my heart if they continue that path for a while until the remove the gay agenda homosexual CEO.
Thanks to dayglored for the ping to the article!
If you want on or off the Mac Ping List, Freepmail me.
MacDailyNews Take: So, to recap: Some analysts expected growth of more than a mere 35% (in the June quarter, no less) and wanted guidance of more than $51.13 billion — $51.13 BILLION! — in the 90-some-odd-day quarter over the dead of summer (sorry Aussies!) in which Apple’s all-time record for the September quarter, so far, stands at $42.1 billion, but Apple only gave guidance with a top end of $51 billion, not $51.13 billion. OMG, what a disappointment! Quelle tragédie! Mon Dieu! Run for the hills! (dripping sarcasm)Our point already having been made quite sufficiently, and with some French having already been deployed, we’ll refrain from breaking Godwin’s Law here, but, in times like these, The Big Lie fairly leaps to mind.
There's not much I can add to that masterpiece of criticism. . .
I'm happy with all my cash in the mattress, virtually speaking.
Commenter: "Stocks price on FUTURE earnings. Not past results which are already priced in. Their forward guidance is what's hitting the stock.iPhones are their entire company now. Seeing slower sales going forward. Not good. Watch is a disaster. So bad they wouldn't even comment on number of units sold (and try to put a shine on it by saying it's sold more than ipod and ipad in the same sales window). Doesn't mean much since those products are now very low sellers. Peak Apple has happened. Get used to it."
My (slightly edited) reply to the Commenter: You mistake what they are saying with the Apple Watch sales. They are NOT saying that the Apple Watch is outselling what the iPod (which is a mis-characterization of what was said; they said the first iPhone) and the iPad are selling NOW, what they said, Commenter, is that the Apple Watch out sold the numbers of those iconic products sold on their first release in equivalent periods.The iPad, in particular, was the fastest and largest selling product of all time at its release in 2010, and has remained the record holder since. The Apple Watch has, in its release, eclipsed the iPad's initial sales numbers and done so in a shorter time. In other words, Commenter, the record has been broken.
Tim Cook and Apple's CFO did indeed comment on the Apple Watch in the Financial Conference Call. They just did not attach any specific unit sales numbers or dollar figures to those sales. The Apple Watch sales are not a disaster. Get used to it.
As for future sales, Apple gave exceptional guidance going forward, predicting a fourth fiscal 2015 quarter with a range of $49-$51 Billion in revenue. . . especially when 2014's fourth fiscal quarter was only $42 Billion.
That's a 16.7% to 21.4% growth rate over last year's 3rd quarter, year over year, far exceeding the growth of the industry, which is receding. That quarter will be followed by Apple's historically best first quarter of the following fiscal year, the December holiday quarter.
Basically, you, Commenter, like the after hours traders fell for the hype of the idiots who wrote the panic laden headlines pushed by some know-nothings who actually LIED about what happened when they published headlines claiming that Apple had falsely "missed revenue and EPS expectations" when all they had missed was a small minority of very bullish analysts who pulled some numbers out of their nether regions with very little evidence to back up their over inflated expectations!
Even their claim that Apple's guidance is missing the Street is absurd, since Apple says they expect revenue to be between $49 and $51 billion and the "whisper" number for the expected guidance was $51.13 Billion. . . WOW!
Apple missed predicting the future Revenue guidance by a mere $130 million —and the bottom drops out of their stock valuation based on that???? REALLY? Apple missed hitting their wild bass (read "dead-fish") guesstimate by a quarter percent????
And for that error, over $50 billion in investor's value was destroyed in almost the blink of an idiotic journalist's myopic eye. Oh, the humanity of it all! What sheer stupidity.
What makes it even more idiotically stupid is that not eight hours before, multiple pundits were claiming the Street was expecting revenues from Apple of only $46.2 Billion— which Apple handily beat—and no one was really looking for such a huge guidance for next quarter until some journalist told them they were looking for it.
But they told these nervous nellies just at the stroke of five PM after the market had closed, when a flurry of what I think were deliberately falsely negatively headlined articles hit the Internet—just as Apple's CEO and CFO were starting their Financial Conference Call to announce Apple's 3rd Quarter 2015 results.
Who orchestrated this flurry of negativity is an interesting question.
If the open is this low, I’ll back up the truck.
121.99 -10.08 (-7.70%)
LAST UPDATED 6:44 PM EDT JUL 21
http://stocktwits.com/symbol/AAPL
121.80 -8.95 -6.85%
Jul 21, 2015, 7:59 p.m
http://www.marketwatch.com/investing/stock/aapl
Apple CFO Says ‘Very Confident’ in China After Market Turmoil
http://www.bloomberg.com/news/articles/2015-07-21/apple-cfo-says-very-confident-in-china-after-market-turmoil?cmpid=the_street
Set a record for iPhones, but the next iteration is rumored, that could actually have held back sales a little — meaning the next sales figures could be even higher?
Apple Sells A Record-Breaking 47.5 Million iPhones, But Is Wall Street Underwhelmed?
[snip] iPhone sales — one of the most important metrics investors watch — set a new record at 47.5 million units, but many on the Street had higher expectations. iPad sales came in at 10.9 million units, followed by Macs at 4.8 million units. Apple Watch sales remain a mystery. “It’s very solid,” said Udall. “It’s not the Apple-crush that people were thinking. They missed my revenue number by about a billion.” Udall expects the stock to get hit “pretty hard” but said investors still need to see the FX impact. [/snip]
http://www.benzinga.com/analyst-ratings/analyst-color/15/07/5690844/apple-sells-a-record-breaking-47-5-million-iphones-but-i
RUMORS: Apple iPhone 6S specs: Force Touch (don’t say iPhone 7 OK?)
http://www.computerworld.com/article/2941345/apple-ios/iphone-7-rumors-iphone-6s-specs-itbwcw.html
Those Apple Force Touch iPhone rumors look credible
http://www.computerworld.com/article/2941319/apple-ios/those-apple-force-touch-iphone-rumors-look-credible.html
I think you pointed out that the FUD on the Watch (a product that holds no interest for me, disclosure alert) started the day of its release — it’s like some big outfit (huge-assed growth mutual fund, for example) was trying to keep the price low so it could keep eating up AAPL shares. Meanwhile Apple has, what, 90 percent of worldwide profits in smartphones — the rest of the industry sharing the other 10 percent?
Apple took home 92%, Samsung took 15%. That totals 107% because all the rest either broke even or lost money. . . The industry still totaled 100% but you have to count the losses as well.
That fits in the category of a “tremendous trifle” - it’s easy to envision just making the cursor size larger in proportion to the speed at which the mouse is moving it, but finding the cursor is something one does a lot.
Actually, when you edit text there are two cursors - the mouse arrow and the place locator. The place locator sometimes hides in plain sight just as the mouse pointer does, and they should probably exaggerate both cursors whenever the mouse pointer is moved rapidly.
I think Apple will be held back for the next quarter by the collapse of the Chinese stock market. But expect a pickup in the October-December 2015 quarter as the new iPhone 6s and 6+s (which has a lot more improvements than at first glance) arrive on the market.
Seriously? Huge profits, huge sales increase and income increase... so bring in “Homosexual” and “no more Jobs” to the page? How exactly does this contribute to the conversation?
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