LEESBURG, Va.--(BUSINESS WIRE)--May 24, 2023--

FREMONT, Calif.--(BUSINESS WIRE)--Jun 15, 2023--

Apple’s sales have fallen, and will continue to fall, the company warned in its latest results. But the company’s long-term investment in services – such as its streaming TV and music platforms and other monthly subscriptions – helped offset the fall in the number of people buying products such as iPhones and iPads. Apple shares dropped about 2% after the company predicted what could be the fourth quarter in a row of declining sales. For the just-ended period, strength in services drove the profit beat, but weaker than expected sales of Apple‘s most famous device, the iPhone, underwhelmed investors. Executives said iPhone sales would improve in the fourth quarter, but did not say how much. Apple is in a delicate position, with its entrenched iPhone battling for share against Android rivals in a mature market, while its next big product - the Vision Pro mixed-reality headset announced in June - is not yet in the hands of consumers. Apple said sales for the fiscal third quarter ended July 1 fell 1.4% to $81.8 billion and earnings per share rose 5% to $1.26. That topped analyst expectations of $81.69 billion and $1.19 per share, according to IBES data from Refinitiv. 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. Apple Chief Financial Officer Luca Maestri said the company expects a year-over-year revenue performance in the company’s fiscal fourth quarter ending in September similar to the drop the company reported on Thursday. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data. “There is a real concern about when volume picks up and what the horizon is for iPhone sales growth,” said Daniel Newman, chief executive and principal analyst at research firm Futurum Group. Apple pegged the gross profit margin in the September quarter at 44% to 45%, above analyst expectations of 43.4%, according to Refinitiv data. While Appleexpects growth in its service segment that contains Apple TV+, iPad and Mac sales will fall by “double digits,” Maestri said on the call. Apple‘s research and development spending also hit $22.61 billion for the fiscal year so far, about $3.12 billion higher than at this point in the previous year. Apple Chief Executive Officer Tim Cook told Reuters in an interview that the increased R&D spending was in part driven by work on generative artificial intelligence, the same field that is driving spending at other big technology companies. “We’ve been doing research across a wide range of AI technologies, including generative AI, for years. We’re going to continue investing and innovating and responsibly advancing our products with these technologies to help enrich people’s lives,” Cook said. “Obviously, we’re investing a lot, and it is showing up in the R&D spending that you’re looking at.” In the meantime, Apple appeared to outperform what has been the weakest smartphone market in China in almost a decade. Overall smartphone sales declined 8% in China in the calendar second quarter to their lowest levels since 2014, according to Counterpoint Research. By contrast, Cook told Reuters that Apple‘s iPhone sales in China grew by “double digits” and that sales were also high in other segments in China. That helped Apple push sales in its greater China region to $15.76 billion, from $14.60 billion in last year’s same quarter. “This was really done by attracting a quarterly record of switchers to the iPhone, as well as having a strong upgrader activity,” Cook said. “We also set quarterly records in China for both wearables, home and accessories, and services.” Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Cook said the installed base of iPhones hit a new high but gave no numbers. “The company continues to face headwinds caused by waning growth in the smartphone market,” said Insider Intelligence analyst Jeremy Goldman. “All eyes are now on its earnings call for any potential Vision Pro or AI-related announcements that could further push the boundaries of their business model.” Apple‘s services segment, which includes its Apple TV+ service which has announced a deal to carry Major League Soccer, had $21.21 billion in revenue, compared with analyst estimates of $20.76 billion, according to Refinitiv data. Cook said Apple now has 1 billion subscribers on its platform, which includes both Apple services and third-party apps, up from 975 million a quarter ago. The company’s wearables business, which includes the Apple Watch and AirPods, had revenue of $8.28 billion, compared with analyst estimates of $8.39 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. “Almost half of the Mac buyers during the quarter were new to the product, and we continue to see strong upgrader activity to Apple Silicon,” Cook told Reuters. Additional reporting by Reuters Read More Apple planning new version of AirTags – but not for some time The iPhone 15 is going to help Apple achieve one very big dream New iPhone might have a mysterious button on its side – and this is what it could do iPhone users urged to check their photo library amid fears they could be deleted Rumours are growing about some bad iPhone news Meta’s Twitter rival Threads sees ‘steep drop in daily users by 80 per cent’

Microsoft confirmed disruption to its Microsoft 365 apps earlier this month was due to a

TL;DR: As of May 11, you can pick up the MagStack Foldable 3-in-1 Charging Station

Verizon Communications Inc held a meeting with customer service employees to notify them of upcoming "restructuring" and "streamlining"

A planet with conditions on the surface resembling Earth has been discovered a relatively short distance from us. In fact, it’s just 31 light-years away, which is the space equivalent of 'down the road'. Scientists are always excited when it comes to the discovery of new exoplanets, and this is no different. The planet, named Wolf 1069 b, is the sixth closest exoplanet to Earth has been found and the findings were published in the journal Astronomy & Astrophysics. Sign up to our free Indy100 weekly newsletter It orbits the red dwarf - which is named Wolf 1069. As such, the planet has been given the name Wolf 1069 b. The planet was discovered during a study called CARMENES which is a long-term study based around finding exoplanets. Encouragingly, scientists believe that the planet sits in the habitable zone around its sun where water can exist in liquid form. The study was undertaken by a team led by astronomer Diana Kossakowski of the Max Planck Institute for Astronomy. Kossakowski said: "When we analyzed the data of the star Wolf 1069, we discovered a clear, low-amplitude signal of what appears to be a planet of roughly Earth mass. "It orbits the star within 15.6 days at a distance equivalent to one-fifteenth of the separation between the Earth and the sun." It comes after a new planet was discovered with a surprisingly fluffy composition - like candy floss. The exoplanet, WASP-193b, was discovered 1,232 light-years away and while it's nearly 50 percent bigger than Jupiter, it's light and fluffy making it as dense as the sweet treat. According to a team led by astronomer Khalid Barkaoui of the University of Liège in Belgium, the planet orbits a Sun-like star named WASP-193. This star is around 1.1 times the mass and 1.2 times the radius of the Sun and is very close to the Sun in temperature and age. The planet orbits the star around once every 6.25 days. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

Warmer and cleaner waters off the coast of Long Island, New York, in recent years have brought growing numbers of bait fish to the area — and with them, the bigger fish that eat them, including sharks. In some ways, it's a good sign for the environment. But it's a different story for swimmers, surfers and beach goers.

It's almost impossible to conceive of going to school without a laptop these days. A

MEMPHIS, Tenn.--(BUSINESS WIRE)--Sep 18, 2023--

With so many of us working from home these days, we now have more apps

By Joe Skipper, Joey Roulette and Steve Gorman BOCA CHICA, Texas (Reuters) -SpaceX's uncrewed spacecraft Starship, developed to carry astronauts