Apple on Tuesday reported revenue of $50.6 billion and quarterly net income of $10.5 billion. As Apple guidance in the last quarter suggested, these results are down from revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter.
“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”
The company sold 51 million iPhones in the quarter, down from the 61 million in the same quarter last year. The company sold 4 million Macs in this quarter, down from the 4.5 million Macs sold in the year-ago quarter.
Apple stock closed down 0.69% at $104.35. It’s down almost six points in after-hours trading, at $98.38.
Obviously Apple will wither and fail within 18 months years! I mean, at this rate of change, which is obviously permanent and fixed, they’ll be losing money in just over three quarters!
Sell! Sell!
Hopefully it’s starting to down on the socially active Tim Cook fans that he is no Steve Jobs. Sad day, and I say this as the biggest Apple fan-boy ever. The company isn’t innovating anymore. The storage options on the Macbooks are ridiculous. Watch is good, not great. iPhones only modestly changing. Cloud storage extra stingy. Cook was the COO, He runs the company based on spreadsheets, not innovation. The chickens have come home to roost. Very, very sad day. I criticize with no glee.
Because the product visionary needs to sit at the very top of the food chain and manage the entire company? Steve Jobs was a one-of-a-kind product leader that could manage an entire company at the same time as product development. Sometimes I wonder how the guy found enough time in the day to do all the things he did. But thats not the norm, and product leaders rarely sit at the very top. They’re close delegates to the top, which is what Tim Cook has set up for himself.
No one thinks Tim Cook is a Steve Jobs replacement. Far from it. The question is, does Apple need a Steve Jobs wannabe, or just a strong leader that can steer the ship in the right direction. If you don’t think Tim Cook is a very strong and qualified leader, then you might want to tell your saint Steve that his wisdom wasn’t exactly infallible.
Steve couldn’t make the company grow on an infinite timescale either. 13 years is one hell of a run. And a significant portion of its growth happened within the last 5 years, since Steve passed. Not really fair to discount that. Tim had the guts to greenlight a bold rethinking of their entire software design principles, a bold rethinking of their pro desktop, a bold rethinking of the laptop, etc. Apple hasn’t lost a bit of their balls to take risks in certain respects.
in line with guidance, no surprise really. iPhone growth has slowed as it was expected to eventually, and iPad growth is not as expected. The watch is not driving sales growth. And the Apple TV got nerfed a bit in its ambitions by the networks and studios. So… probably no major growth surge until something else comes from Apple. Apple car? Services?
I think “socially active” is the tell in this one.
Why does the company have to grow with another iphone like hit product? Iphone is a once in a decade product. The legend that was Steve Jobs never had another hit like iPhone either. Expectations are skewed.
“Sometimes I wonder how the guy found enough time in the day to do all the things he did.”
How many things did Steve Jobs do? He delegated a lot of normal CEO responsibilities to other people. While he was not lazy, there is no evidence he did more things than other hardworking CEOs. He certainly did not code. He did not design much beyond the conceptual level. He listened, watched and criticized a lot. And he tested some products first hand.
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The crooks own Wall Street and everyone wants to see Apple fall. The analysts will make sure Apple always misses expectations. It’s easy enough to do. There are plenty of other stocks the analysts can steer investors towards to earn quick money. That’s not going to happen with Apple. Apple is going to make sure it keeps most of those profits for itself and not shareholders.
it does not. But Wall St rewards companies that grow, so Apple’s stock will be punished as usual and doom-sayers will crawl out of the woodwork and spout their nonsense. If you look at the conference call transcript (http://www.imore.com/apple-q2-2016-transcript), it seems like Tim Cook ,etc wants analysts to start focusing more on the services category, so I suspect that is where Apple expects their growth to come from in the future.
“I’m a huge fan, I own everything, but Apple sucks now…” — what concern troll nonsense.
innovation happens everyday at apple. these are magical devices and they dont design themselves. well, unless you’re on of Apple’s competitors, then they do — you just copy apple’s work.
most CEOs are NOT product designers.
iterative improvement is how apple rolls. you just dont get it. its evolution, not revolution. major new things happen rarely.
http://www.macworld.com/article/1151235/apple_rolls.html
CEOs dont code — dont be stupid. that’d be an awful use of their valuable time. yet Jobs did do product design, and has more patents to his name than you do.
unless you worked closely with Jobs, which you didn’t, we can safely conclude you have no idea what the fuck you’re talking about.
StuckPaper = TROLL.
Agreed!
The question then becomes.. how long to wait before I Buy!! Buy!!