“Apple glows with a nearly holy light these days,” Katie Benner writes for Bloomberg. “The vibes coming out of Cupertino are so good that it seems like Abbey Road is playing on a constant loop down at headquarters while executives stand bathed in sunshine, holding puppies.”
“Weeks after the company’s blockbuster financial results basically saved earnings season for corporate America, a report shows that iPhone sales accounted for 93% of all smartphone profits last quarter,” Benner writes. “(Samsung managed to eke out some profits, but the rest of the field broke even or lost money.) A Canaccord analyst says that only 15 percent of Apple’s installed-base of 404 million has upgraded, so there’s still lots of room for future sales.”
“Let’s give Apple its victory lap,” Benner writes. “The company’s lock on smartphone margins proves that there’s no substitute for sleek hardware and a decent proprietary operating system. Right now there’s no other tech company that’s even close to nailing this formula.”
Full article here.
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