Apple reports earnings

The first fiscal of 2021 marks the first time in nine quarters that Apple's Services segment increased revenue by more than 20 percent. Apple Music In Apple's quarterly earnings announcement on Jan. 27, the company announced Services revenue of $15.8 billion for the final three months of 2020, representing a 24% increase over the same period in 2019. "The steep integration of hardware, software and Services have always defined our approach here, and it has delivered an all-time quarterly Services record," Apple CEO Tim Cook said on the earnings call. "This was the first quarter of the Apple One bundle, which brings together many of our great Services into an easy subscription, and with new content being added to these services every day, we feel very optimistic about where we are headed." "Look no further than the great potential of Fitness Plus," Cook said when discussing Apple Watch. Cook also touted the App Store small business plan, which launched Jan. 1, … [Read more...] about Apple raked in record $15.8B in services revenue during Q1

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple earned $111.4 billion in revenue in the first quarter of 2021, blasting past the $100 billion barrier for the first time on double-digit growth across all product categories. Announced before the company's usual conference call with analysts, Apple's revenue of $111.4 billion for the quarter ending December 2020 represents growth of 21% on the $91.8 billion seen one year prior , itself a record-setting set of results. Earnings per share is set at $1.68, comparatively higher than the $4.99 seen in Q1 2020 before the four-way stock split . The gross margin of $44.3 billion is up from Q1 2020's $35.2 billion, while operating expenses are up/down year-on-year to $10.8 billion from $9.6 billion. Net profit is $28.8 billion, an improvement from $22.2 billion one … [Read more...] about Apple’s $111.4B Q1 shatters quarterly record with massive growth across all categories

A farmer harvest Sơn tra in Mù Căng Chải District.—Photo baotintuc.vn Viet Nam News Yên Bái – Residents of Mù Cang Chải District in the northern mountainous province of Yen Bai are enjoying better lives thanks to their special ethnic fruit called Sơn Tra. Sơn Tra or H’mông apple (scientifically named Docynia indica) is an indigenous tree species widely found at high elevations in northern Việt Nam. Its fruit is traditionally used as food and for making wine, providing a source of income for farmers. From growing wild in the forests, in recent years the trees have become a commodity helping residents escape poverty and even make money, the Tin Tuc (News) Newspaper reports. The biggest forest of sơn tra cultivation is in Lao Chải Commune. Lờ A Chư, a H’mông tribe member, told the newspaper that his family had earned about VND20million-30million (US$900-1,400) from this year’s crop. “This was my family’s sơn tra … [Read more...] about H’mông apple helps minority escape poverty

Investment bank Morgan Stanley calls recent reports of weaker iPhone demand "supply chain noise," and sees the AAPL pullback as a buying opportunity for investors. In a note to investors seen by AppleInsider , analyst Katy Huberty says she agrees with reports of iPhone 12 mini weakness, but adds that the overall demand environment remains positive for the iPhone 12 and iPhone 12 Pro lineup. For one, she cites reports that Apple is cutting iPhone production to 75 million units in the first half of 2021. Although Huberty admits this has contributed to recent AAPL underperformance, she says the news is "noise rather than anything that impacts the fundamental outlook." A recent Morgan Stanley check indicated that there's between three million and five million units of total iPhone build upside risk for the first half of 2021. That's because the bank's research indicates that build orders for specific iPhone 12 and iPhone 11 models are being revised up, not … [Read more...] about iPhone demand weakness just ‘noise,’ outlook remains strong, analyst says

Morgan Stanley has raised its AAPL price target to $164 on blockbuster Apple December quarter results, and said that products like the iPhone could see continued strength in the second quarter. In a note to investors seen by AppleInsider , Morgan Stanley analyst Katy Huberty said that some of the highlights of Apple's Q1 2021 earnings report were "faster iPhone share gains, installed base growth, and services monetization." Those factors, along with a refreshed product lineup and a continued remote education and learning environment, hint at strong double-digit growth over the next several quarters, Huberty said. Other key metrics support an overall faster growth outlook in the long term. They include an acceleration in Apple's installed base growth — from 7% to 10% — and services monetization, as well as a recovery in China. The analyst adds that Apple's gross margin of 39.8% was 160 basis points higher than she modeled. Guidance suggesting upcoming March … [Read more...] about Morgan Stanley raises AAPL to $164 on Q1 2021 results, says Q2 outlook is strong

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Morgan Stanley has raised its Apple price target to $152 on expectations of a strong December quarter across its product and services portfolio. In a note to investors seen by AppleInsider , analyst Katy Huberty says that recent checks indicated that 5G adoption, the switch to remote education and work, and sustained App Store engagement all drove Apple to a potential blockbuster of a December quarter. "Our recent conversations suggest investors expect Apple to release solid, but not great, December quarter results," Huberty writes. "We disagree and believe that Apple is likely to report all-time record quarterly revenue and earnings." The analyst expects Apple to report double digit year-over-year growth across all five of its revenue segments, with some … [Read more...] about Morgan Stanley raises AAPL target to $152, expects blockbuster December quarter