According to CyberMedia Research, Apple sold only 5,85,004 iPhones in India in the quarter, compared with 7,52,544 in the same quarter a year ago, a 22 per cent decline.
Barclays maintained its Equal Weight rating on Apple shares but still raised its target price to $161 from $157.
WhatsApp CEO, co-founder to leave Facebook
Koum sold WhatsApp , the company Facebook for more than 19 billion dollars in 2014 and have joined its Board of Directors. The company is already in hot waters over the Cambridge Analytica Scandal which has cost it some subscribers already.
Counterpoint Research associate director Tarun Pathak said the increased installed base of iPhones on-year in double digits to around 7 million as of December 2017 was a good sign for Apple given the fact that stickiness and aspirational value of the brand will drive upgrades. Wall Street has been concerned that the technology giant's bet on the high-ticket device may not pay off and that consumers aren't embracing other products like Apple AirPods, Apple Music and the Apple Watch.
IPhone sales in total are up almost three percent from the same time past year.
"We're thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables", said Tim Cook, Apple CEO. That brings the overall segment to the size of a Fortune 300 company, Cook said, which is crucial for Apple as it looks to build out its ecosystem and further tie together its devices and services. The iPhone-maker posted better-than-expected profit and revenue that pushed its stock upward by 4% in the after-hours trading session.
Tesla delivers surprise earnings with a lower cash burn
Tesla has had to raise billions of dollars to fund the development and manufacturing of its cars, batteries, and other technology. Initial batches of the Model 3 have had fit and finish issues that include gapping in the panels and inconsistent paint quality.
Though, perhaps a bit surprisingly, Cook did at least nod at the results that indicate top seller or not -The iPhone X has perhaps not lived up to what was expected of it. That doesn't seem to be true, looking through the figures, and the Apple CEO claims that the iPhone X wasn't just a halo product - it was the most popular iPhone model every week in the March quarter. Apple earnings is always a big event for traders and investors, so expect the stock be especially volatile today. The Cupertino, California-based company was also more optimistic about the current quarter than most financial analysts, driving shares up yesterday. Despite the lower Average Selling Price (ASP), revenue attributed to the iPhone rose 14% year-over-year.
Wall Street had predicted that Apple would report earnings per share of $2.69 but the company announced an EPS of $2.73.
Kanye West rebuked for saying slavery 'a choice'
And now after his ongoing "free thought" stint on Twitter , Kanye went one up when he appeared on a show on TMZ Live . That sounds like a choice . "You was there for 400 years, and it's all of y'all?" Prison unites us as one race...
In its quarterly report on Tuesday, Apple said it would earmark $100 billion for a new share repurchase program, succeeding a $210 billion buyback program that started in 2012 and will wrap up this quarter - roughly nine months ahead of schedule. They feared that declining iPhone sales would tank the company's earnings and thus the stock price as well. There's obviously huge opportunities there for us and we have extremely low share in that market overall. But Apple firmly believed that it could still sell a ridiculously expensive phone by offering an entirely new design and innovative features such as Face ID and Animoji.
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