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☆ Apple shares slide after it reports decreased revenue for iPhone and other hardware
▼ + stars: | 2023-08-04 | by ( Lauren Feiner | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook speaks with media members at a viewing area for new products during Apple's Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023. Shares of Apple fell 4.8% Friday after the company reported lower year-over-year revenue for its flagship products in its third quarter earnings report. Apple said revenue for its iPhone, Mac and iPad lines was down from the year before. Still, Apple beat estimates on earnings per share, which came in at $1.26 compared to the $1.19 analysts had expected, according to Refinitiv. During the company's earnings call Thursday, Apple's stock dipped lower when CFO Luca Maestri told analysts they expected similar sales results in the following quarter.

Persons: Tim Cook, Luca Maestri, Maestri, —, Kif Leswing Organizations: Apple, Apple's Worldwide, Revenue Locations: Cupertino , California, Refinitiv, iPhones, India

☆ Apple sees sales slump continuing, shares drop 2% despite beating sales expectations
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

Executives said iPhone sales would improve in the fourth quarter, but did not say how much. Weaker iPhone sales were balanced by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Luca Maestri, Daniel Newman, Maestri, Tim Cook, We've, We're, Cook, Apple, Jeremy Goldman, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Wall, Apple, Android, Futurum, Reuters, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, CHINA, San Francisco, Bengaluru

☆ Apple profit tops Wall Street targets, strong services counter weaker iPhone
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. IPhone sales slightly missed analyst estimates, but were made up for by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That helped Apple push sales in its greater China region to$15.76 billion, from $14.60 billion in last year's same quarter. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Tim Cook, We've, We're, Cook, Apple, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Apple, Reuters, Android, Big Tech, Microsoft, Google, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, San Francisco, Bengaluru

☆ Apple's most profitable line of business is making up for some hardware struggles
▼ + stars: | 2023-08-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple's third-quarter earnings report on Thursday showed a revenue decline in the company's most iconic hardware products — iPhone, iPad and Mac. But offsetting the hardware softness is accelerating growth in services, Apple's most profitable business. In the June quarter, services grew over 8% to $21.2 billion in sales, speeding up from 5.5% the prior period. Gross margin for services in the June quarter was 70.5%, almost double the 35.4% margin for all of Apple's hardware products. Apple won't set growth records for its services business, which topped 38% at one point during the pandemic.

Persons: Tim Cook, Luca Maestri, they're, Maestri Organizations: Apple

☆ Investors are mainly focused on Apple's next quarter and iPhone cycle, says Baird's Will Power
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors are mainly focused on Apple's next quarter and iPhone cycle, says Baird's Will PowerWill Power, Baird senior analyst, joins 'Squawk on the Street' to discuss Qualcomm's comments about handsets regarding Apple, the outlook for Apple's services business, and more.

Persons: Will Power, Baird Organizations: Investors, Apple

☆ Here's the trade on Apple ahead of Thursday's earnings, according to analysts
▼ + stars: | 2023-08-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.

Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays, UBS Locations: Apple's, Tuesday's, Asia

☆ Here's the trade on Apple ahead of Thursday’s earnings, according to analysts
▼ + stars: | 2023-08-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

☆ Apple expected to post third consecutive down quarter, but its forecast is more important
▼ + stars: | 2023-08-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

David A. Grogan | CNBCEmerging markets and ChinaSome analysts are eager to see Apple give data points on India sales. India became one of Apple's top five iPhone markets during the quarter, according to analyst estimates. If Apple stockpiled parts and has enough to make what it needs to produce, it could help margins, analysts say. Wall Street likes to see Apple's services business grow regularly and smoothly, because the margins on services are so much higher than when Apple sells hardware. Apple suggested a 5% year-over-year increase in services, and FactSet's estimates more than $20.7 billion in revenue.

Persons: Tim Cook, Valley's Allen, David A, Cook, D.A, Davidson, Tom Forte, Piper Sandler, Harsh Kumar, Kumar, Apple, Sidney Ho, Wells, Aaron Rakers Organizations: Company, Grogan, CNBC, Apple, Google, Apple Pay, Services, Deutsche Bank, Bloomberg Locations: Sun Valley , Idaho, China, India, Hong Kong, Taiwan

☆ Apple faces $1 bln UK lawsuit by apps developers over app store fees
▼ + stars: | 2023-07-24 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, July 25 (Reuters) - Apple (AAPL.O) on Tuesday found itself the target of a 785-million-pound ($1 billion) class action lawsuit brought by more than 1,500 apps developers in the UK over its App Store fees. Apple's services business, which includes the App Store, has seen revenues grow at a rapid pace in the last few years and now hovers around $20 billion per quarter. Apple has previously said that 85% of developers on the App Store do not pay any commission and that it helps European developers to access markets and customers in 175 countries around the world through the App Store. "Apple's charges to app developers are excessive, and only possible due to its monopoly on the distribution of apps onto iPhones and iPads," Ennis said in a statement. They harm app developers and also app buyers."

Persons: Sean Ennis, Ennis, Foo Yun Chee, Aurora Ellis Organizations: Apple, Competition, Centre for, University of East, OECD, Geradin Partners, Thomson Locations: BRUSSELS, University of East Anglia

☆ Here’s our Monthly Meeting rapid-fire update on all 35 stocks in the Club’s portfolio
▼ + stars: | 2023-06-14 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. In fact, he named Disney as the best Club stock to gift to a young grandchild. CEO Jim Farley's focus on only making profitable cars and trucks will be put to the test in the current quarter. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer's, Jim, Apple's, there's, Bausch, Estee Lauder, Fabrizio Freda, Berenberg, he's, Jim Farley's, Ford, Locker, Foot Locker's, Mary Dillon's, Patience, we're, Vimal Kapur, Johnson, J, Eli Lilly, Eli Lilly's, Mark Zuckerberg, Morgan Stanley, We're, James Gorman, enabler, aren't, Scott Sheffield, Coterra, PXD, Jim said, Stanley Black, Decker, TJ Maxx, Wells Fargo, Charlie Scharf's, Scharf, Wells, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon Web Services, Bausch Health, Caterpillar, Costco Wholesale, Costco, Humana, Coterra Energy, Disney, Emerson, Emerson Electric, National Instruments, Ford, Management, GE Healthcare, Halliburton, HAL, Honeywell, Johnson, Linde, LIN, Meta, underwriters, Cava, Microsoft, Palo Alto Networks, Natural Resources, Procter & Gamble, Constellation Brands, Modelo Especial, U.S, TJX, Marshalls, Home Goods, Wynn Resorts, WYNN, Starbucks, Las, Jim Cramer's Charitable Locations: Asia, China, California, Mounjaro, Palo, Wells, Las Vegas, Macao

☆ 'I don't like the tape here,' Cramer warns on certain stocks
▼ + stars: | 2023-06-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 'Don't like the tape' Stick with Apple Stay bullish on Wells Fargo 1. Stay bullish on Wells Fargo Wells Fargo (WFC) shares still look attractively valued, Jim said, despite their more-than-2% pop Tuesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Jim, he's, Wells, Charlie Scharf, Mike Santomassimo, Wells Fargo, Jim Cramer's Organizations: CNBC, Labor, Federal Reserve, Oracle, Adobe, Apple, UBS Locations: Wells Fargo, U.S, India, Wells Fargo Wells Fargo, Wells

☆ Apple's entry into VR with its new headset is a 'watershed moment,' say top industry execs
▼ + stars: | 2023-06-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Apple's mixed-reality headset debut marks a "watershed moment" for the industry, said the executives of some major players in the augmented and virtual reality space as they welcomed competition for the U.S. tech giant. Cher Wang, Taiwanese tech giant HTC's CEO, told CNBC that she sees Apple's move as a validation for the industry. HTC has long been a mainstay of the virtual and augmented industry, pivoting from its ailing smartphone business several years ago to focus on its Vive headsets division. Apple says the Vision Pro will allow users to see apps in a new way in the spaces around them. With the headset, users can watch movies, including in 3D with spatial audio, view their own pictures or videos, and play video games.

Persons: Cher Wang, Apple's, Apple Organizations: Apple, U.S, CNBC, HTC, VR, Microsoft, Vision, iOS Locations: Cupertino

☆ Apple's tax on AI inventions has begun. It will cost OpenAI and others hundreds of millions of dollars a year.
▼ + stars: | 2023-05-22 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +4 min

The app quickly rocketed up to the top of the iOS App Store charts. Last week, OpenAI launched an iPhone app for ChatGPT that quickly shot to the top of the App Store. And yet, it will likely make hundreds of millions of dollars a year from this technology, while basically doing nothing. None of that is stopping Apple from offering the service to users through its App Store and reaping a profit on subscription sales. OpenAI is not doing that, perhaps because the process is a bit more clunky than using Apple's built-in payment processor.

☆ Buffett says people would rather give up a second car than an iPhone. Here's why Apple's business is so stellar
▼ + stars: | 2023-05-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

"If they had to give up a second car or give up their iPhone, they'd give up their second car. AAPL .SPX mountain 2016-05-16 Apple's stock performance versus the S & P 500 since May 16, 2016, the day Berkshire's stake in the iPhone maker was first disclosed. Buffett's comments Saturday were "very bullish on Apple," Jim said Monday during the Club's "Morning Meeting." Free cash flow is generally defined as operating cash flow minus capital expenditures or cash spent on purchases of plant, property and equipment (PP & E). Berkshire currently owns about 5.66% of the 15.82 billion Apple shares outstanding, according to FactSet.

☆ Goldman makes a big call on Apple that jibes perfectly with our long-term outlook
▼ + stars: | 2023-03-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

The growth of Apple's services revenue in recent years has fueled our enduring investment mantra: Own Apple, don't trade it. Apple shares rose 270.5% between Feb. 6, 2018 and Friday's close, far outpacing the S & P 500's roughly 50% advance over that period. Over the 12 months in which Goldman had a sell on Apple shares, the stock climbed about 89% . In particular, we appreciate the analyst's conviction in the company's services growth, which includes the App Store and Apple Music. As that base of active device users expands, the number of people who will pay for additional Apple services grows alongside it.

☆ Goldman Sachs says Apple can rally more than 30% thanks to its services business
▼ + stars: | 2023-03-06 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Apple could get a big boost from its services business, according to Goldman Sachs. Ng said investors may be incorrectly focusing on slowing product growth, which masks what he sees as an opportunity for the company to expand its services business. He said improvements in the services business, paired with product innovation and growth in the base, should offset headwinds from reduced demand for phones, tablets and Macs. "The durability of Apple's installed base and the resulting revenue growth visibility from attaching more Services and Products is what underpins the recurring revenue - or Apple-as-a-Service - opportunity." Apple's services business should see an 11% compound annual growth rate through at least the end of fiscal 2026, Ng said, resulting in $117 billion in revenue compared with $78 billion in fiscal 2022.

☆ Morgan Stanley sees Apple rallying more than 20%, says investors should look past near-term headwinds
▼ + stars: | 2023-03-03 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Investors should look beyond Apple 's near-term challenges to see strong catalysts on the horizon, according to Morgan Stanley. Near-term challenges include weakening consumer electronics spending trends, a challenging economic backdrop, headwinds from foreign currencies, iPhone production shortages and remaining Covid restrictions, Woodring said. But Woodring said investors should look past what could be a tough short-term, instead focusing on incoming tailwinds. New iPhones should be down 9% in fiscal 2023 — the biggest year-over-year drop since 2019 — due to supply shortages and sliding demand. He said those price increases could be seen in products such as Apple Music, Apple TV+, Apple One and international apps.

☆ Apple stock has 5 under-the-radar drivers that could catapult it to a near-$4 trillion valuation, Morgan Stanley says
▼ + stars: | 2023-03-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Apple stock still has a lot of upside that some investors may be underestimating, according to Morgan Stanley. Morgan Stanley said five under-the-radar catalysts could send Apple stock to its bull-case scenario of $230. The bullish target represents 53% upside and would catapult Apple to a near-$4 trillion valuation. But Morgan Stanley believes not only will Apple reclaim its $3 trillion valuation milestone, but that it could surge as much as 53% from current levels to a near-$4 trillion level. He is so confident that Morgan Stanley named Apple its top stock pick of 2023.

☆ Apple and Google have a symbiotic deal: ChatGPT will pressure the former to evaluate this relationship
▼ + stars: | 2023-02-10 | by ( Thomas Maxwell | Alistair Barr | ) www.businessinsider.com time to read: +6 min

Google has long benefited from a costly deal to be the default search engine on Apple devices. On top of the Apple deal, Google controls Android and Chrome, with roughly 71% and 65% of the smartphone and browser markets, respectively. Based on its understanding of Google's deal with Apple, Bernstein believes that a 3-year default search deal is coming up for renewal later this year. It's unclear whether Apple would want to change the default search engine to Bing, but it's always had a contentious relationship with Google. Apple's services business, which includes the search deal, was a bright spot in the company's most recent earnings report.

☆ Apple CEO Tim Cook says AI will eventually 'affect every product and service we have'
▼ + stars: | 2023-02-03 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Tim Cook said AI would be a "major focus" for Apple and affect every product and service. Recent AI products like ChatGPT and DALL-E 2 have caught the attention of the business community. Cook said Apple has already integrated AI into some of its iPhone and Apple watch features. It will affect every product and every service that we have," Cook said. Many predictions about artificial intelligence seemed like the stuff of science fiction until recently, when several consumer-facing AI products hit the market, including AI photo editors like Lensa AI and DALL-E 2, along with AI chatbot ChatGPT.

☆ Apple reports earnings after the bell Thursday
▼ + stars: | 2023-02-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Apple reports fiscal first-quarter earnings after the bell. Revenue : $121.19 billion: $121.19 billion Earnings per share : $1.94 per share: $1.94 per share iPhone revenue : $68.29 billion: $68.29 billion iPad revenue : $7.76 billion: $7.76 billion Mac revenue : $9.63 billion: $9.63 billion Other products revenue : $15.23 billion: $15.23 billion Services revenue: $20.67 billionThe primary focus for investors will be the company's December quarter revenue. However, Apple management usually gives a few data points that give analysts a sense of how the quarter is going. Analysts expect Apple to report $98 billion in sales in the March quarter, or slight year-over-year growth. Several data points in the December quarter, including Apple's own App Store payouts, suggest a slowdown in App Store growth.

☆ Apple's latest App Store revenue stat shows slowing growth
▼ + stars: | 2023-01-10 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

This year's disclosure suggests that Apple's App Store growth has plateaued. If all developers paid a 30% cut to Apple, Apple's App Store grossed over $85 billion in 2022, based on CNBC analysis. Apple's stat includes anyone who subscribes to a service through Apple's App store, not just its own first-party services like Apple TV+ and Music. Morgan Stanley analyst Erik Woodring has been following slowing App Store growth. "While App Store growth remains near its lowest levels in history, and we acknowledge the global consumer remains challenged, we are encouraged to see growth trajectory continue to improve after bottoming in September," Woodring wrote.

☆ A top Apple subscriptions executive, VP Services Peter Stern, is leaving the company
▼ + stars: | 2023-01-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +2 min

Peter Stern, one of Apple's top subscriptions executives, is exiting the company. In six years at Apple, Stern helped build Apple TV+'s business operations and the company's sports portfolio. Apple is reorganizing its Services unit and Stern's responsibilities will be split into three separate divisions, according to two people familiar with internal conversations at Apple. During his six-year tenure at Apple, Stern helped build subscription products such as Arcade, Books, and Apple One, News+, Fitness+, iCloud+. Apple's Services unit revenue continues to grow, as do its total subscriptions.

☆ Apple CEO Cook conveyed app store curb concerns to Japan PM - Nikkei
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

Dec 30 (Reuters) - Apple Inc (AAPL.O) Chief Executive Tim Cook asked Japanese Prime Minister Fumio Kishida to consider protecting users when regulating distribution of smartphone apps, Nikkei reported on Friday citing sources. Apple has faced heightened scrutiny over its App Store practices that charge a 30% fee on payments and subscriptions and does not allow iPhones to use apps from third party app stores. Cook asked Kishida to make sure that regulations around distribution of apps do not undermine user privacy and security, the report added. Earlier this month, Apple said it had invested more than $100 billion in its Japanese supply network over the last five years, as Cook visited the country. Revenue from Apple's services business, which includes the App Store, has been growing at a rapid pace in the last few years and now hovers at about $19 billion per quarter.

☆ Morgan Stanley is bullish on this Big Tech stock it says could rally by 64%
▼ + stars: | 2022-12-16 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

Investors this year have mostly shied away from growth stocks in favor of safer bets given aggressive interest rate hikes and other headwinds. But the tech giant has held up relatively well compared to its peers. Though Apple is currently trading at a 20% premium to the S & P 500 , Morgan Stanley said an analysis that relies purely on price-to-earnings ratios "underappreciates the durability of Apple's ecosystem." Morgan Stanley also expects Apple's services business to return to double-digit year-on-year growth, after having missed analyst estimates for the fourth quarter ended September . "We believe Apple still has room to grow in its core business," Morgan Stanley said.

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