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Thursday, January 3, 2019
Tim Cook Says iPhone Activations Set New Christmas Day Records in United States and Canada
http://bit.ly/2F5zu5l
In a memo to employees obtained by Bloomberg's Mark Gurman, Apple CEO Tim Cook provided additional commentary about the company's reduced revenue forecast for the first quarter of its 2019 fiscal year.
Cook said Apple is "disappointed" that its quarterly revenue will fall up to $9 billion short of its initial guidance, entirely due to the iPhone, but touted revenue records from other product categories including the Mac, services like the App Store and iCloud, and wearables like the Apple Watch and AirPods.
iPhone activations also set new Christmas Day records in the United States and Canada, according to Cook.
Cook added that "this moment gives us an opportunity to learn and to take action," starting with an all-hands meeting with employees today at 9:30 a.m. Pacific Time at Apple's Town Hall auditorium on its Infinite Loop campus.
The full memo:
This article, "Tim Cook Says iPhone Activations Set New Christmas Day Records in United States and Canada" first appeared on MacRumors.com
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from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2RaoQ3B
In a memo to employees obtained by Bloomberg's Mark Gurman, Apple CEO Tim Cook provided additional commentary about the company's reduced revenue forecast for the first quarter of its 2019 fiscal year.
Cook said Apple is "disappointed" that its quarterly revenue will fall up to $9 billion short of its initial guidance, entirely due to the iPhone, but touted revenue records from other product categories including the Mac, services like the App Store and iCloud, and wearables like the Apple Watch and AirPods.
iPhone activations also set new Christmas Day records in the United States and Canada, according to Cook.
Cook added that "this moment gives us an opportunity to learn and to take action," starting with an all-hands meeting with employees today at 9:30 a.m. Pacific Time at Apple's Town Hall auditorium on its Infinite Loop campus.
The full memo:
Team,AAPL shares are currently down around eight percent to $145 in pre-market trading following the disappointing news.
Happy New Year — I hope everyone was able to rest and enjoy time with loved ones over the holidays.
This afternoon we issued a letter to Apple investors explaining that we are revising our financial guidance for the holiday quarter. I encourage you to read it. As you will see, our revenue shortfall in Q1 is from iPhone, primarily in Greater China.
While we are disappointed to be falling short of our quarterly revenue goal, our fiscal first quarter was also a record setter for revenue from Services, Wearables and the Mac. iPad revenue grew double-digits over the year-ago quarter, and iPhone activations in the U.S. and Canada set new Christmas Day records. We expect to set all-time revenue records in key markets including the US, Canada and Mexico, Western European countries including Germany and Italy, and countries across the Asia-Pacific region like Korea and Vietnam. Our worldwide installed base of active devices also hit a new all-time high, reflecting the loyalty of our customers and their appreciation for the work you do.
We are tremendously proud of the innovations we're delivering to our customers with iPhone XR, iPhone XS and iPhone XS Max. These are, without a doubt, the best iPhones we've ever made. We did not set a new record for iPhone sales in Q1, however, due to a number of factors — some macroeconomic, and some specific to Apple and the smartphone industry.
External forces may push us around a bit, but we are not going to use them as an excuse. Nor will we just wait around until they get better. This moment gives us an opportunity to learn and to take action, to focus on our strengths and on Apple's mission — delivering the best products on earth for our customers and providing them with an unmatched level of service. We manage Apple for the long term, and in challenging times we have always come out stronger.
With that in mind, please join me for an all-hands meeting on Thursday morning at 9:30 a.m. PT. Be sure to check AppleWeb for more details. Due to construction at Apple Park, we'll be gathering at Town Hall on the Infinite Loop campus. Join us there in person, or via live stream through AppleWeb. I'll have more details about the quarter, and I'm looking forward to your thoughts and questions.
Hope to see you there.
Tim
Tag: Tim Cook
This article, "Tim Cook Says iPhone Activations Set New Christmas Day Records in United States and Canada" first appeared on MacRumors.com
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Tim Cook to Address Q1 Earnings Concerns at All-Hands Meeting With Apple Staff
http://bit.ly/2R4kjjc
Apple CEO Tim Cook today plans to hold an "all-hands meeting" with employees to alleviate any fears surrounding the company's revision to its Q1 2019 earnings expectations.
According to Bloomberg's Mark Gurman, who spoke to a person familiar with the matter, Cook plans to address concerns from Apple staff by taking questions from workers during Thursday's meeting.
Further details on the meeting have yet to be disclosed, but Cook will likely seek to dampen internal worries about what the revised earnings guidance means for the company's plans as it gears up for another year.
In his earnings call on Wednesday, Cook revealed that Apple expected to end the first quarter of 2019 with $84 billion in revenue, which is down over 7 percent from the $89 billion to $93 billion forecast the company predicted at the end of the last fiscal quarter 2018.
In interview with CNBC, Cook said trade tensions with the U.S. put additional pressure on the Chinese economy, which led to less traffic in stores and lower sales. He also blamed fewer carrier subsidies, a stronger dollar, and the $29 battery replacement program, suggesting that those factors led to fewer iPhone upgrades than expected.
Writing for Bloomberg, Gurman claims that stagnating smartphone sales mean Apple needs to look beyond the iPhone as its core product, but that the company shouldn't rely on its AirPods or Apple Watch lines because they're tied to iPhone use.
Likewise, Apple's services business may provide a sizable income, but the success of those also rely heavily on iPhone usage. In other words, Apple may need to look at new product categories if it is to successully reverse the damage of its iPhone sales problem, which is currently limited to China. The problem is that potential major launches like AR-glasses and self-driving car technology still seem years away.
This article, "Tim Cook to Address Q1 Earnings Concerns at All-Hands Meeting With Apple Staff" first appeared on MacRumors.com
Discuss this article in our forums
from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2BXPJgK
Apple CEO Tim Cook today plans to hold an "all-hands meeting" with employees to alleviate any fears surrounding the company's revision to its Q1 2019 earnings expectations.According to Bloomberg's Mark Gurman, who spoke to a person familiar with the matter, Cook plans to address concerns from Apple staff by taking questions from workers during Thursday's meeting.
Further details on the meeting have yet to be disclosed, but Cook will likely seek to dampen internal worries about what the revised earnings guidance means for the company's plans as it gears up for another year.
In his earnings call on Wednesday, Cook revealed that Apple expected to end the first quarter of 2019 with $84 billion in revenue, which is down over 7 percent from the $89 billion to $93 billion forecast the company predicted at the end of the last fiscal quarter 2018.
In interview with CNBC, Cook said trade tensions with the U.S. put additional pressure on the Chinese economy, which led to less traffic in stores and lower sales. He also blamed fewer carrier subsidies, a stronger dollar, and the $29 battery replacement program, suggesting that those factors led to fewer iPhone upgrades than expected.
Writing for Bloomberg, Gurman claims that stagnating smartphone sales mean Apple needs to look beyond the iPhone as its core product, but that the company shouldn't rely on its AirPods or Apple Watch lines because they're tied to iPhone use.
Likewise, Apple's services business may provide a sizable income, but the success of those also rely heavily on iPhone usage. In other words, Apple may need to look at new product categories if it is to successully reverse the damage of its iPhone sales problem, which is currently limited to China. The problem is that potential major launches like AR-glasses and self-driving car technology still seem years away.
According to analyst Shannon Cross of Cross Research, as long as the problem doesn't spread to other regions, Cook can weather the storm. "It's going to rely on understanding the supply chains, how to make sure costs are efficient and effective," which are Cook's strengths, Cross said.
Tag: Tim Cook
This article, "Tim Cook to Address Q1 Earnings Concerns at All-Hands Meeting With Apple Staff" first appeared on MacRumors.com
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from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2BXPJgK
Investor Rights Law Firm Investigates Apple's Earnings Cut for 'Potential Securities Fraud'
http://bit.ly/2F503rq
Apple is to be investigated by an investor rights law firm for potential securities fraud following yesterday's revised Q1 2019 earnings guidance for the company, it emerged on Wednesday.
Bernstein Liebhard LLP, which calls itself "a nationally acclaimed investor rights law firm," announced on its website that it was investigating the fraud claims on behalf of Apple shareholders, based on "allegations that Apple and/or its executives may have issued materially misleading business information to the investing public."
The firm's complaint with Apple focuses on comments about China made by CEO Tim Cook in his November Q4 2018 earnings call, compared to what he told investors yesterday.
In his letter on Wednesday, Cook revealed that Apple expected to end the quarter with $84 billion in revenue, which is down more than 7 percent from the $89 billion to $93 billion forecast the company predicted at the end of the last fiscal quarter 2018.
Cook put the revised guidance down to "lower than anticipated iPhone revenue, primarily in Greater China, [which] accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline."
The statement contrasts with Cook's comments on China during Apple's November Q4 2018 earnings call, in which he told investors that "our business in China was very strong last quarter. We grew 16 percent, which we're very happy with. iPhone in particular was very strong, very strong double-digit growth there."
Essentially, Bernstein Liebhard claims that the difference between the two statements represents "materially misleading business information" that has subsequently "damaged investors." It remains unclear how those allegations will stand up to scrutiny in a law court, however.
Following Cook's earnings call yesterday, Apple's stock fell to almost $12 per share, or over 7.5 percent, during aftermarket trading hours. The downgrade also sent shares in other companies with exposure to China tumbling over fears that the slowdown could affect other markets.
Cook said that the timing of the iPhone XS, XS Max, and XR launch compared to the timing of the iPhone X launch last year were set to impact year-over-year comparisons, as would the strength of the U.S. dollar. Cook also said that customers taking advantage of "significantly reduced pricing for iPhone battery replacements" was also a factor that led to fewer upgrades in 2018.
This article, "Investor Rights Law Firm Investigates Apple's Earnings Cut for 'Potential Securities Fraud'" first appeared on MacRumors.com
Discuss this article in our forums
from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2LOpz4F
Apple is to be investigated by an investor rights law firm for potential securities fraud following yesterday's revised Q1 2019 earnings guidance for the company, it emerged on Wednesday.
Bernstein Liebhard LLP, which calls itself "a nationally acclaimed investor rights law firm," announced on its website that it was investigating the fraud claims on behalf of Apple shareholders, based on "allegations that Apple and/or its executives may have issued materially misleading business information to the investing public."
The firm's complaint with Apple focuses on comments about China made by CEO Tim Cook in his November Q4 2018 earnings call, compared to what he told investors yesterday.
In his letter on Wednesday, Cook revealed that Apple expected to end the quarter with $84 billion in revenue, which is down more than 7 percent from the $89 billion to $93 billion forecast the company predicted at the end of the last fiscal quarter 2018.
Cook put the revised guidance down to "lower than anticipated iPhone revenue, primarily in Greater China, [which] accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline."
The statement contrasts with Cook's comments on China during Apple's November Q4 2018 earnings call, in which he told investors that "our business in China was very strong last quarter. We grew 16 percent, which we're very happy with. iPhone in particular was very strong, very strong double-digit growth there."
Essentially, Bernstein Liebhard claims that the difference between the two statements represents "materially misleading business information" that has subsequently "damaged investors." It remains unclear how those allegations will stand up to scrutiny in a law court, however.
Following Cook's earnings call yesterday, Apple's stock fell to almost $12 per share, or over 7.5 percent, during aftermarket trading hours. The downgrade also sent shares in other companies with exposure to China tumbling over fears that the slowdown could affect other markets.
Cook said that the timing of the iPhone XS, XS Max, and XR launch compared to the timing of the iPhone X launch last year were set to impact year-over-year comparisons, as would the strength of the U.S. dollar. Cook also said that customers taking advantage of "significantly reduced pricing for iPhone battery replacements" was also a factor that led to fewer upgrades in 2018.
This article, "Investor Rights Law Firm Investigates Apple's Earnings Cut for 'Potential Securities Fraud'" first appeared on MacRumors.com
Discuss this article in our forums
from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2LOpz4F
ASUS Zenfone Max Pro M1 Price in India Permanently Cut by Rs 1,000 Across All Variants on Flipkart
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Sling TV Update Brings Interface Improvements for Apple TV Users
http://bit.ly/2SAOsDm
Sling TV has updated its Apple TV app in an effort to simplify access to content and enhance discoverability on the online streaming television platform.
The new user interface upgrades, which are based on customer feedback, include improvements that put content front and center, while enabling subscribers to manage favorites and see more information about shows before viewing.
In the new larger grid guide view, more images and blurbs now appear for the currently selected show, while filters on the left-hand side of the screen filter channels by categories including My Channels, Sports, Movies, and Kids.
Meanwhile, individual channel guides can be accessed by clicking the channel logo on the left of the grid guide to see all the content available on that channel, and clicking a show now also offers more images and information on other seasons available via the streaming service.
Elsewhere in the update, Favorite channels gain some visual UI improvements, and can now be managed by selecting an orange icon at the front of a row, allowing subscribers to view their recordings and edit content in the continue watching ribbon.
Lastly, tapping the Apple Remote touch pad during streaming now lets users view more information about what they're watching, including show name, description, closed caption options, player controls are more.
Sling says the new features for Apple TV are set to come to other Sling TV-supported devices in the future. See the Sling blog for more information.
This article, "Sling TV Update Brings Interface Improvements for Apple TV Users" first appeared on MacRumors.com
Discuss this article in our forums
from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2BZ1L9F
Sling TV has updated its Apple TV app in an effort to simplify access to content and enhance discoverability on the online streaming television platform.
The new user interface upgrades, which are based on customer feedback, include improvements that put content front and center, while enabling subscribers to manage favorites and see more information about shows before viewing.
In the new larger grid guide view, more images and blurbs now appear for the currently selected show, while filters on the left-hand side of the screen filter channels by categories including My Channels, Sports, Movies, and Kids.
Meanwhile, individual channel guides can be accessed by clicking the channel logo on the left of the grid guide to see all the content available on that channel, and clicking a show now also offers more images and information on other seasons available via the streaming service.
Elsewhere in the update, Favorite channels gain some visual UI improvements, and can now be managed by selecting an orange icon at the front of a row, allowing subscribers to view their recordings and edit content in the continue watching ribbon.
Lastly, tapping the Apple Remote touch pad during streaming now lets users view more information about what they're watching, including show name, description, closed caption options, player controls are more.
Sling says the new features for Apple TV are set to come to other Sling TV-supported devices in the future. See the Sling blog for more information.
Tag: Sling TV
This article, "Sling TV Update Brings Interface Improvements for Apple TV Users" first appeared on MacRumors.com
Discuss this article in our forums
from MacRumors: Mac News and Rumors - All Stories http://bit.ly/2BZ1L9F
Xiaomi To Spin Off Redmi Into A Separate Brand, Launch 48MP Camera Phone On January 10
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