By Christian Zibreg on Jan 18, 2017
We didn’t want to let this milestone pass by without acknowledging it: shares of Apple have hit the $119.95 mark in intraday trading, the highest stock price for the Cupertino firm since late 2015 and good for a cool $639.7 billion market cap. $AAPL hit a 52-week low of $89.47 in May 2016. Read More
By Cody Lee on Jan 4, 2017
Apple is planning to announce its earnings results for Q1 of [fiscal] 2017 on January 31. The company on Wednesday updated its investor website to show that it will be hosting a conference call to discuss the quarter that Tuesday at 2:00pm PT.
Apple’s first quarter is of course its holiday quarter, which covers the popular 3-month holiday shopping period between October and December. And as usual, all eyes will be on the company to see if it was able to solve its recent growth problems. Read More
By Cody Lee on Jul 26, 2016
Apple on Tuesday released its earnings report for the third [fiscal] quarter of 2016. The Cupertino company exceeded expectations, selling 40.4 million iPhones, 10 million iPads and earning $42.4 billion in revenue. The numbers are still down year-over-year, however, with 47.5 million iPhones and nearly $50 billion in revenue in Q3 2015. Read More
By Cody Lee on May 2, 2016
Tim Cook on Monday appeared on CNBC’s ‘Mad Money’ to talk with host Jim Cramer about Apple’s recent earnings report. The iPhone maker announced weaker-than-expected Q2 sales last week, and its stock has since dropped more than 10 points.
While the interview is transparently a PR move to let Wall Street know that Apple is still on the right path, Cook did offer up some interesting comments about the future of his company. Naturally, we’ve highlighted some of our favorites for you below. Read More
By Cody Lee on Oct 27, 2015
Apple announced its financial results for its fiscal fourth quarter of 2015 this afternoon, and the numbers are pretty solid. The company sold 48M iPhones and earned $51.5B in revenue, handily beating numbers from last year but falling short of Wall Street’s expectations.
We’ve just finished up the conference call, where Tim Cook and CFO Luca Maestri discussed Apple’s performance over the three-month period, and offered up some insights into its future. And as usual, we’ve rounded up the 15 most interesting points from the call below. Read More
By Cody Lee on Oct 27, 2015
Apple on Tuesday posted its [fiscal] fourth quarter earnings for 2015, offering a look at its performance over the past 3 months. The company shattered most of its sales figures from the same year-ago quarter, but came in under Wall Street expectations in the most important category: iPhone sales.
Analysts were expecting Apple to sell 48.5 million smartphones during Q4, but it fell a bit short at 48.05 million. And although market watchers anticipated lower-than-last-year iPad numbers, the firm came in under tablet sales projections as well. Keep reading for a full breakdown of the numbers.
By Cody Lee on Apr 27, 2015
Apple announced its financial results for its fiscal second quarter of 2015 this afternoon, and the numbers are impressive. The company sold 61.2 million iPhones and earned $58 billion in revenue, breaking March quarter records and beating Wall Street expectations.
We just finished up the conference call, where Tim Cook and other executives team discussed Apple’s performance over the three-month period, and offered up some insights into its future. And as usual, we’ve rounded up the 15 most interesting points from the call below. Read More
By Cody Lee on Apr 27, 2015
Apple has posted its [fiscal] second quarter earnings report for 2015 this afternoon, and they are impressive. The Cupertino company beat Wall Street estimates, recording $58.01 billion in revenue on the back of strong iPhone sales.
More than 61 million iPhones were purchased during the usually-slow, post-holiday second quarter. That’s over 4 million above analyst estimates, and it looks like the handset did particularly well in China—up 72% year-over-year. Read More
By Cody Lee on Mar 10, 2015
Would Apple consider acquiring electric car-maker Tesla? That was the question posed to Tim Cook by two Apple investors during the company’s annual shareholder meeting today. And as you’d imagine, the chief executive gracefully deflected the question.
Recode attended the meeting, and noted Cook responded to the query by talking about CarPlay and its 40+ model rollout this year. “Was that a good way to avoid the question?” When pressed he joked, “let me think if there’s another way to give a non-answer.” Read More
By Cody Lee on Dec 19, 2014
Apple was the biggest buyback spender among the S&P 500 this year, according to MarketWatch. Citing data from FactSet, the outlet reports the iPhone-maker has bought back more than $56 billion worth of shares from stockholders in 2014.
That’s a staggering amount, especially when you consider that the company that came in second place among buyback spenders in 2014, IBM, only spent $19.2 billion. Apple spent almost that much ($18.6 billion) during its first quarter this year. Read More
By Cody Lee on Sep 3, 2014
Shares of Apple dropped 4% today, closing this afternoon at $98.94. That’s the stock’s worst percentage slump since late January, and its worst value since it began its march towards its highest price ever in early August.
The news comes amidst the recent iCloud scandal, in which Apple’s cloud security was blamed for the leaking of several revealing celebrity photos, and ahead of the company’s highly anticipated iPhone event next week. Read More
By Cody Lee on Aug 19, 2014
After hovering just under the $100 mark for several weeks, shares of Apple finally surpassed the mark today and closed at an all-time high of $100.56. That breaks the Cupertino company stock’s previous closing record of $100.30, set on September 19, 2012 in the run up to the launch of the iPhone 5.
Today’s news comes just a few months after Apple authorized a 7-1 stock split (before the split, today’s closing price would be shown as $703.92), and amidst a barrage of rumors regarding the company’s plans for product releases this fall which include two new iPhones and possibly a smartwatch… Read More
By Cody Lee on May 5, 2014
Talk about a signing bonus. After officially joining Apple last week, word got out today that Angela Ahrendts has already received 113 thousand units of restricted stock. At today’s prices—remember, APPL is back up around $600—the shares would be worth roughly $68 million.
This makes the company’s new SVP of retail and online stores one of the highest-paid executives in the industry, but of course, she’ll have to wait to cash in. According to a filing with the U.S. Securities and Exchange Commission, the full amount won’t be available until 2018… Read More
By Jake Smith on May 5, 2014
Investors are liking Apple’s direction lately, pushing the stock to $600 per share for the first time since 2012. Shares of AAPL closed at $600.96 each on Monday, a nice hike up from the under $400 price the stock was sitting at in April 2013.
Apple’s shares were up more than $8 for the day to reach the 52 week high, bringing the Cupertino-based company’s market capitalization to a hefty $517.65 billion. Read More
By Jake Smith on Apr 21, 2014
Apple reports its quarterly earnings on Wednesday for the January to March quarter – a typically slow time for technology companies following the Christmas quarter crunch.
On its last earnings call in January, Apple told investors to expect revenue between $42 billion and $44 billion, gross margin between 37 percent and 38 percent, operating expenses between $4.3 billion and $4.4 billion, other income/(expense) of $200 million, and a tax rate of 26.2 percent. Really, no better than the company did last year.
Analysts have been checking with industry sources, looking at retail logs, and number crunching to predict what Apple will announce on Wednesday. Whether the company misses or beats the expectations could have a big impact on the stock price, which is up roughly 36 percent year-over-year. Last quarter, the stock tanked in after hours following a bad guidance for the numbers that are set to be report on Wednesday. Here’s what analysts are expecting: Read More
By Christian Zibreg on Feb 10, 2014
Controversial activist investor Carl Icahn continues to aggressively purchase shares of Apple while insisting that the company increase the size of its share buyback program. His proposal for a $50 billion buyback has been met with resistance by proxy advisory firm Institutional Shareholder Services (ISS) which now recommends voting against the plan.
ISS argues that the Apple board has already returned the bulk of its U.S.-generated cash to shareholders through the company’s aggressive stock buybacks and dividends payouts. As a result of large institutional investors siding with Apple, Icahn has withdrawn his proposal… Read More
By Cody Lee on Feb 7, 2014
Apple reported the financial results for its holiday quarter late last month, and for the most part they killed it—the company set records for revenue, iPhone sales, and iPad sales during the 3-month period. But all Wall Street saw was declining growth.
The Cupertino tech giant’s stock dropped 8% that day in after-hours trading, falling from $550 per share to $500, and it has yet to rebound. But Tim Cook says Apple’s taking advantage of the unexpected price drop by going on a major buyback spree… Read More
By Cody Lee on Jan 6, 2014
Bloomberg is reporting today that Apple has come under criticism from some of its major shareholders over the absence of women on its board and throughout its executive team. Specifically, Trillium Asset Management LLC and the Sustainability Group have engaged the company on the issue.
The shareholders have met with Apple a number of times over the past few months to address the its lack of diversity in top-level ranks. They intended to bring the issue to a vote at the February shareholder meeting, but Apple agreed to address the issue via new language in its corporate charter… Read More
By Sébastien Page on Dec 4, 2013
Carl Icahn knows what he wants, and he usually gets it. These days, what Carl Icahn wants is Apple to initiate a $150 billion buyback program of its stock. Although Tim Cook hasn’t clearly expressed it, he’s been reluctant to follow Icahn’s request, which led him to file a precatory proposal.
A precatory proposal is a fancy term which, in clear English means a shareholder proposal for a stock buyback program to be voted on at Apple’s next annual shareholder meeting… Read More