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Moreover, iPad revenue has now turned around, exhibiting a 7 percent year-over-year increase, and Apple continues to hold an 84 percent share of the market for tablets that retail for more than $200. In a surprise twist, while the number of iPad units sold continued to decline, this time by 9 percent year-over-year, the decline is slowing. Nonetheless, Apple is seeing the highest percentage of switchers to iPhone from other smartphones than it ever has, and CEO Tim Cook remains optimistic about the iPhone SE, saying, “It’s opening the door to customers we weren’t reaching before.” Indicate that the forthcoming iPhone 7 won’t be a huge leap from the iPhone 6s, iPhone sales may continue to show continued weakness. However, unit sales were also down, so perhaps customers are awaiting the next-generation iPhone, expected in a few months. If anything, the iPhone SE might have hurt revenues, given that CFO Luca Maestri indicated that it lowered the iPhone’s overall average selling price. Unfortunately, not even the seemingly popular iPhone SE has reinvigorated interest. IPhone sales, as Apple predicted last quarter, are again down year over year: 15 percent in units sold and 23 percent in revenue. The company has now completed almost $177 billion of its $250 billion capital return program. Furthermore, the company returned over $13 billion to investors in the last quarter through share repurchases and dividends. Despite declining revenues, Apple beat analysts’ expectations, prompting the stock to rise nearly 7 percent in after-hours trading. However, Apple’s investors are not suffering. The company’s revenues are down 6.9 percent compared to its record-breaking year-ago quarter, which brought in revenues of $49.6 billion and profits of $10.7 billion (see “ Apple Posts Record Financials for Q3 2015,” 21 July 2015). Reporting on its third quarter financial results, Apple has announced net profits of $7.8 billion ($1.42 per diluted share) on revenues of $42.4 billion.
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Preview selections, portable power for a MacBook Pro #1618: M2 MacBook Air available to order, Lockdown Mode, Live Text vs.#1619: Stage Manager first impressions, Live Text in Preview redux, SMS 2FA failure fix, moving large folders with ChronoSync.#1620: OS updates, AssistiveTouch for iOS shortcut palette, Photos album sharing bug.
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#1621: Apple Q3 2022 financials, Slack's new free plan restrictions, which OS features do you use?.