Sign up for our free daily newsletter
Get the latest news and some fun stuff
in your inbox every day
Get the latest news and some fun stuff
in your inbox every day
Apple has been taking some heat recently from regulators in Europe and the US. The most recent allegation has come from the US Department of Justice (DOJ) who have filed a civil lawsuit against Apple suggesting that they have monopolised the smartphone market by discouraging any innovation that threatens their own business. This has resulted in less choice for consumers, slow competition and increased consumer costs.
On Thursday evening, Apple reported its earnings for the festive season quarter. The tech behemoth had revenue and profits that were higher than the street was expecting, posting sales of $120 billion for the quarter, a growth of 2.1% over a year earlier. The share price was little moved.
Apple is working to remove the blood-oxygen sensors from its latest watches, including the Series 9 and Ultra 2, because of an ongoing patent dispute with medical technology company Masimo.
Last quarter, Apple's services business reached an all-time revenue high of $22.3 billion. That's more than twice the size of Netflix's sales. More importantly, services accounted for 40% of Apple's gross profit despite being only 25% of the group's revenues.
In this digital age, the quality of your pictures is very high up on the priority list. I've just got myself an iPhone 15 Pro and I can confirm that the image quality is fantastic.
Late last week, Apple reported record quarterly revenues from iPhone sales, and an all-time revenue record for its services business. This helped the company beat analyst expectations, and the stock price has risen by 6% this month.
Apple has long sought to break into the healthcare industry. This article on Bloomberg by Mark Gurman is titled Inside Apple's decade-long challenge to reinvent health care.
Last night Apple reported 'meh' results, with both revenue and profits slightly higher than forecast, but forward guidance lighter than the market wanted. For the quarter, Apple reported revenue of $81.8 billion, down 1% from a year earlier. At their scale, it's hard to move the needle up or down.
Take a look at the top 10 biggest companies on the planet. Other than Aramco and Berkshire, 8 of these are tech companies. This is certainly a sign of the times and it is no coincidence that Vestact portfolios are heavily focused on tech.
Apple has not really spoken much about AI. At their latest Worldwide Developers Conference, they did not mention it once which is almost unheard of at the moment. But in reality, AI is all over their products and software.
Apple is the biggest and best company on the planet. That's not just my opinion, it's a position that is established by its towering market capitalisation of $2.9 trillion. Billions of dollars exchange hands every single minute of every trading day on the stock market, and freely-traded share prices determine each company's value. Apple is the biggest and the best, based on the trades of millions of retail investors, thousands of analysts and hundreds of institutions.
Soccer is the most popular sport on the planet but it has not quite cracked the US yet. Apple thinks that this will change. They signed a $2.5 billion rights deal last year to broadcast Major League Soccer (MLS) in a subscription package on Apple TV+ for 10 years.
It was all about Apple yesterday. The share price reached a record high, leading into the announcement for its new VR headset. This is the first new product category launched under Tim Cook. In the presentation, Cook spoke about how the Mac pioneered computing to the household, the iPhone made things mobile and now the Vision Pro introduces spacial-computing.
Apple shares are up about a third this year, and they rose another 5% on Friday. Apple is already the most valuable company on the planet. Revenues were an eye-popping $94.8 billion for the quarter while net profits were $24.2 billion. Analysts had predicted $93 billion in revenue and $22.6 billion in net profits.
Charlie Bilello pointed out that the combined market capitalisation of Apple and Microsoft ($4.7 trillion) was $2 trillion bigger than the whole Russell 2000 ($2.7 trillion). The Russell 2000 is a small cap index made up of 2000 of the lesser stocks listed in the US.