“What’s keeping the CEO of a company that just reported the most profitable quarter in history up at night?” Luke Kawa repots for Bloomberg. “For Apple Inc.’s Tim Cook, it’s the ‘economic challenges all over the world.'”
“‘This is a huge accomplishment for our company especially given the turbulent world around us,’ said Cook, immediately after running through the company’s quarterly financial highlights on a conference call,” Kawa reports. “While pointing out that Apple had been performing quite well in China last summer—unlike some other firms—he suggested that the forward outlook was not nearly as bright. ‘Notwithstanding these record results, we began to see some signs of economic softness in Greater China earlier this month, most notably in Hong Kong,’ he said.”
Our results are particularly impressive given the challenging global macroeconomic environment… We’re seeing extreme conditions unlike anything we’ve experienced before just about everywhere we look. — Apple CEO Tim Cook, January 26, 2016
Full article here.
MacDailyNews Take: This too shall pass.
Although things are fairly bleak in various countries, from Russia to Brazil, and some other economies tied to — oil-based economies — we do believe that this too shall pass, and that these countries will be great places, and we want to serve customers there. We are not retrenching, we don’t believe in that. Fortunately we are strong enough to continue investing. The downside of economic stress is that some asset prices get cheaper and that sort of thing, this is exactly the period that you want to invest and do so confidently. — Apple CEO Tim Cook, January 26, 2016
SEE ALSO:
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Apple CEO and CFO see broad global economic ‘weakening’ – January 27, 2015
Most Apple analysts maintain positive ratings, but cut price targets – January 27, 2015
Piper Jaffray: iPhone resume growth in 2016 despite poor macroeconomy – January 27, 2015
Apple highlights services in search of Wall Street’s love – January 26, 2016
Apple reaps $18.4 billion quarterly profit, the largest ever recorded by a single public corporation – January 26, 2016
Apple beats on earnings; sets all-time records for revenue, net income, and EPS – January 26, 2016
MacDailyNews presents live notes from Apple’s Q116 Conference Call – January 26, 2016
Apple beats Street with all-time record quarterly earnings – January 26, 2016