Apple Promises “Amazing New Products”
This post Apple Promises “Amazing New Products” originally appeared on Truth About Bills
Apple Inc. (NASDAQ: AAPL) reported that it sold 31.2 million iPhones for the three months ending in June, better than Wall Street’s expectation amid a competitive smart phone market. CEO Tim Cook promised “amazing new products that we will introduce in the fall and across 2014.”
Brian Colello, analyst with Morningstar, said the “strong” iPhone sales contributed to the company’s quarterly earnings of $6.9 billion and revenue of $35.4 billion, which were slightly better than expected, though earnings were still down from a year ago. Revenue is essentially flat compared to the same period a year ago.
In after-hours trading, the stock rose about 5 percent to $440 a share.
Colello said the biggest boost to Apple’s stock may be its “massive” $16 billion stock buyback this quarter.
“Apple’s been an aggressive buyer of the stock as it has hung around the $400 price range,” he said.
At the close of New York financial markets on Tuesday, the stock was trading at $418.99, down 1.72 percent. Apple’s stock has fallen about 20 percent so far this year.
“We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” said Apple CEO Tim Cook in a statement. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”
Apple’s CFO Peter Oppenheimer said in a statement, “We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases.”
Colello said he was most interested in iPhone unit sales and Apple’s overall gross margins, which he expected to be affected by iPhone prices, and the mix of sales between the iPhone 5 and the older cheaper 4 and 4S models. Colello expected a decline in iPhone prices, which fell 5 percent sequentially, because prices tend to fall as products age.
The Cupertino-based tech company said it sold 31.2 million iPhones, a company record for the June quarter, compared to 26 million a year ago in the same period. Many analysts expected Apple to sell about 27 million iPhones in the quarter that ended June 30.
The company sold 14.6 million iPads compared to 17 million a year ago. It sold 3.8 million Macs, compared to 4 million a year ago.
In April, Apple reported better-than-expected earnings in its second quarter, saying it sold 37.4 million iPhones and 19.5 million iPads, but its guidance for the following quarter disappointed most investors.
Since its introduction in June 2007, the iPhone has typically been the company’s biggest money maker. Sales of the iPhone comprised 51 percent of revenue in the three months that ended in June.
The company said it expected revenue between $34 to $37 billion in the next three months, in line with many analysts’ expectations.
Colello said, “Apple’s forecast for Q4 appears light, but gross margins are expected to hold up well.”
Source: ABC News
This post Apple Promises “Amazing New Products” originally appeared on Truth About Bills
Source: http://truthaboutbills.com/apple-promises-amazing-products/?utm_source=rss&utm_medium=rss&utm_campaign=apple-promises-amazing-products
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Humic & Fulvic Liquid Trace Mineral Complex
HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.
Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...
It’s OXYGENATED
It Always Tests at 9.5+ pH
Preservative and Chemical Free
Allergen Free
Comes From a Pure, Unpolluted, Organic Source
Is an Excellent Source for Trace Minerals
Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents
Highly Conductive/Full of Extra Electrons
Is a Full Spectrum Complex
Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.
Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.
![Report abuse](/img/report_abuse.png)