Analysts latched on to better-than-expected guidance for the June quarter and comments from Apple that its trade-in program have boosted iPhone sales, sending the stock higher in after hours trading.
The City of Roseville employee’s retirement fund is suing Apple over alleged securities fraud. Tim Cook and Luca Maestri are listed as defendants.
Specifically, the lawsuit claims that Apple was not initially forthcoming about a drop in demand for the iPhone due to poor sales in China and the 2018 battery replacement program, both of which contributed to lower than expected iPhone sales in the first fiscal quarter of 2019.
Apple has US$245 of gross cash and other things like long-term securities. It has US$115 billion in long-term debt. This makes its net cash position US$130 billion, and Apple CFO Luca Maestri has said eventually the company wants to have a net cash neutral position. Tiernan Ray writes about issues that may arise because of this.
Come 2023, will investors balk at an Apple suddenly less generous with its capital returns? And if Apple puts off that day as much as possible, plodding along with no significant increase in capital returns, will it lose the support of those fickle buyers hungry for shares with meaningful dividend buyback increases every year?
Apple redid its executive profiles using the upcoming Memoji feature in iOS 12 for iPhone X (and new iPhone models to be announced this fall), all as part of its World Emoji Day celebration/blitz.
Announced during the company’s March quarter results, Apple described an aggressive plan for what is the single largest share buyback plan in history, and here’s what Bryan Chaffin thinks that means.
Warning, this one went long: Bryan Chaffin and Jeff Gamet discuss what Apple’s share buybacks say about Apple’s future. They also weigh WhatsApp’s founder leaving Facebook, and what it says about Facebook and Mark Zuckerberg. They go over when diving into Google Duplex, a demonstration that was as awesome as it was devoid of real value.
Bryan Chaffin and Jeff Gamet discuss the myth of the failing iPhone X, where that myth comes from, how it’s sustained, and how Apple’s own data says otherwise. They also talk about how Apple CEO Tim Cook and CFO Luca Maestri tried to dispel those reports during Apple’s quarterly conference call with analysts. They also look at the indicators that HomePod, on the other hand, isn’t doing well, and Tim Cook’s continued insistence on focusing on sound quality when we really want a capable home assistant. They cap the show with some perspective on just how much money Apple is paying out to shareholders.
It’s the largest share buyback program in corporate history, and is in addition to Apple’s existing $210 billion stock buyback programs.
Apple not only reported increased revenue for iPads in general, but growth in its education market in specific.