Apple Working On A dual-SIM iPhone

Apple made $34 billion despite slow iPhone sales in first quarter of 2018

Apple made $34 billion despite slow iPhone sales in first quarter of 2018

Apple reported a jump in second-quarter earnings Tuesday and announced a new $100 billion share buyback plan, although sales of iPhone smartphones narrowly missed expectations.

Alcoa, the 300th company on the Fortune 300, posted $9.3 billion in revenue previous year, according to Fortune. They feared that declining iPhone sales would tank the company's earnings and thus the stock price as well.

Although Apple sold slightly fewer iPhones than expected - and at a lower price - during the quarter, Cook said he's optimistic there's room to run in the smartphone market worldwide.

Instead, the popularity of the iPhone X helped Apple to is best-ever second quarter, with revenues weighing in at $61.1 billion, up by 15 per cent on the same period past year, and well ahead of analysts' consensus expectations. Share buybacks, which are reaching record levels, are great for investors, including executives and employees, because they reliably lift stock prices by limiting the supply of shares for sale. While the flagship iPhone X may not have matched the hype from its launch late past year, the device's $999 starting price helped boost phone revenue growth 14 per cent. Wall Street was said to be in "Full Panic Mode" over Apple.

Apple provided a relatively solid outlook for the current fiscal third quarter, with revenue in the range of US$51.5 billion to US$53.5 billion.

Apple investors were waiting for yesterday's Q2 earning report with trepidation.

WARNING: "Apple (AAPL) Expected to Announce Quarterly Sales of $61.33 Billion" was reported by The Lincolnian Online and is owned by of The Lincolnian Online.

Apple also markets related accessories, software, networking solutions, services, and third-party applications and digital content. This new facility could create as many as 20,000 jobs, Apple has said. Last week estimates of iPhone shipments were cut by six million by Morgan Stanley following a disappointing outlook that was issued by iPhone processor maker, Taiwan Semiconductor Manufacturing.

"Across all our services, paid subscriptions surpassed 270 million, up over 100 million from a year ago and up $30 million in the last 90 days alone, contributing to the overall increase in services revenue", Cook said. Included in a round of price-target hikes was one to $208 from $200 at Canaccord Genuity - a 23% premium to last night's close. Apple is expanding its manufacturing facility in Bengaluru with the acquisition of a new tract of land near Devanahalli.

The company also doubled the number of users and saw triple the transactions on its Apple Pay mobile payments service, Cook said, though no specific numbers were given.

But critics say the actions can take money away from potential investments in hiring or research and development, and can increase economic inequality because they typically benefit wealthier people.

"You have to start thinking about Apple differently going forward", Dan Morgan, senior portfolio manager at Synovus Trust Company, wrote in a recent note.

Cook also stated that iPhone X has achieved a stellar rating of 99 percent customer satisfaction.

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