“CEO Tim Cook said he feels ‘fantastic’ about iPhone sales in the last quarter and touted the strength of the company’s services business,” Harriet Taylor and Josh Lipton report for CNBC.
“Globally, Apple grew its revenue from Services 19 percent and the app store hit an all-time record,” Taylor and Lipton report. “Services will be “the size of a Fortune 100 company by next year,” said Cook.”
“‘I feel fantastic about how iPhone did this quarter,’ CEO Tim Cook told CNBC. ‘Looking ahead, iPhone will be more important than ever,'” Taylor and Lipton report. “Cook told CNBC he feels really good about sales in China. ‘We are not backing off our investment in China,’ he said.”
Read more in the full article here.
MacDailyNews Take: YKBAID.
Apple’s services business includes revenue from Internet Services, AppleCare, Apple Pay, licensing and other services.
The Milwaukee-based life insurer Northwestern Mutual is currently 100 on Fortune’s list with $28.111 billion in annual revenue and 5,530 employees.
Sometimes, a little perspective goes a long, long way.
Uh, I haven’t been able to go into an Apple store in over a year to get a state of the art laptop. The configurations currently available in July 2016 are embarrassing. I feel sorry for the sales guys having to sell this stuff to the rubes. It’s like being used car salesmen. SAD!
Apple really sucks. Don’t it? There oughtta be a law…
Nobody should be down voting this. Apple doesn’t seem to realize that the stars have aligned for Apple to crush Windows if they pushed Mac updates (including real Pro Macs) out with the same regularity as iPhone/iPad updates.
Seriously, Microsoft is flailing! Large screens with keyboards (laptops & desktops) are not going away. Come on Apple! Bury Wintel.
You don’t seem to realize that Apple is reliant upon chipsets by Intel and NVidia. They can’t just put out a new compelling laptop or desktop design on a regular schedule. They have to pick when to do it when the parts they need are available. That said, the MacPro schedule is just embarrassing. They should have done something there. Apparently Microsoft’s Surface had some significant difficulties with Intel’s Skylake line of mobile processors where people would put the device in a bag and it would wake from sleep. Imagine your lovely MacBook Pro running while in your laptop bag. I’m not in Apple, but I can guess that Apple doesn’t want to put out machines with such a serious bug.
At that price, yes. Similarly priced machines can.
Sorry folks. I hate to break it to you short sighted anti-Apple fan boys but Apple is and has been a long game stock not one of your flash in the pan, maybe we will actually make a real profit some day, tech slop stocks. The plans that Cook and co. put in to place aren’t there to satisfy your quarterly financial fantasies. They are played out not over quarters but over decades. There are products being developed and services being devised that won’t see the light of day for years. Despite all the blathering I hear about how bad things are there’s not a company out there that wouldn’t love to be Apple on its worst day. Apples numbers are the stuff of Amazon’s,Googles, Microsoft’s and Alphabet’s best dreams.
The only problem with that is those companies you mentioned are having share gains that makes Apple look retarded. Not only those companies but almost any other major tech company you can name. Apple has become king of the laggards and there’s really no reason it has to be that way. Apple had the money to move into other areas the same as those other companies did. Instead, Tim Cook decided to sit back and do nothing in terms of increasing Apple’s revenue. Apple could have been a major player in cloud services if it had even tried to build itself that type of business. But, no… AppleWatch was more important to Apple and Wall Street positively hates that damn product.
Apple certainly didn’t do much to stop the iPad decline. Heck, if Apple couldn’t stop the decline then it could have started a side business to offset those losses. Truthfully, it looks as though Apple’s letting the whole Mac lineup stagnate. The Mac Pro is beyond salvation in its current form. In terms of hardware, Apple shouldn’t have to play second fiddle to any company on the planet when it comes to desktop processing power.
There doesn’t seem to be many investors who think Apple is a long play as they’re always claiming Apple won’t be around in another five years. Facebook will supposedly destroy Apple with social bots.
Not every business has its goal set as increasing share prices. They are making huge amounts of money. But that’s not good enough for Wall Street because they don’t think about things like normal people. They want GROWTH. But how do you grow when you reach saturation? It doesn’t make Apple a bad company.
I would have thought AppleCare would have a large hardware component since it pays to replace bits of hardware.
I agree I think it muddles the accounting to put AppleCare in Services… not that it’s that big of a deal, but it seems like that should go into the same category as their upgrade trade-in plans… if not unique, then in hardware or retail.
The services portion of their business will ultimately become enormous. And THIS is why APPL is a very good long term investment. It’s not about the hardware stupid. 😉
“It’s not about the hardware stupid”
no, Apple service growth depends a lot on hardware. Listen to the conference call, T.C said services increase was due to stuff like Apple Care plans increasing. Except for stuff like iTunes on Windows, Apple hardware is what drives services.
no iOS Hardware no iOS app sales.
no mac hardware no Mac app store sales.
no apple TV no Apple TV app or media sales.
No service plans. etc.
Seems the leadership at is disintegrating somewhat.
Happily, not disintegrating faster than that of your brain cells.
why, thank you.
You base this on….? Certainly not the profits the company makes. On the Earth, there are 12 companies larger than Apple. Apple makes more money (by a huge margin) than any of them.
I love reading all of the comments by the armchair CEOs here on MDN. It would be interesting to know their occupations and qualifications for such expert advice.
If i could give this comment 6 stars I would. Don’t get me wrong, everyone is open to their opinion on Apple. But seriously, 99.99993% of you (including me) have absolutely no idea what is actually going on in Apple, more the less know how to run a bajillion dollar company. It’s like the Trump of fanboys.
I agree with deeno. You deserve at least 6 stars for that comment.
I’m an international playboy.
Just like Trump. You’re qualified!
Thanks!
I have no knowledge of running a large corporation and my career has no connection with computing or finance, but I have made significant investments in AAPL and traded AAPL for many years and now live in a beautiful house that was paid for mostly with the profits from those investments.
I don’t try to advise Tim Cook, but I listen objectively to what’s being said and apply my own judgement to how AAPL is likely to change, selling or buying at times which I think are advantageous. Before investing, I observed AAPL carefully for year or two to see how things appeared to change. It’s worked beneficially for me on vastly more occasions than it has worked out adversely, so I feel entirely comfortable about my judgements and also happen to believe that Tim Cook is doing an excellent job. I’m not so impressed by the analysts or commentators. I put my money where my mouth was. It paid off and continues to do so.
I Normally decide whether to buy or sell just before earnings are reported, but decided not to on this occasion. I live in the UK and have to covert between GBP and USD when trading AAPL. The pound has recently fluctuated wildly against the dollar and I felt that currency changes might be more pronounced than AAPL changes on this occasion and would be less predictable too. I wasn’t expecting as much movement with AAPL as there has been so far today, so felt that caution was the better option on this occasion.
I work for the Clinton Foundation. We collect hundreds of millions of dollars in bribes and provide no actual product in return. Our margins are almost 100%!
Sometimes, we have to approve something like the sale of uranium mines to Russia but that costs us nothing!
I DONT CARE WHAT ANYONE SAYS, ANALYST OR OTHERWISE .. APPLE IS DOOMED!!!! YOU HEAR ME!! DOOMED!!! DOOMED!!!
Dripping with you know what!
The one thing I think Apple needs to do before it rolls out more paid services is to go the Amazon Prime route. ONE PRICE gets you all services. Right now I pay for iTunes Match, Music, and iCloud storage. It all should be ONE charge.