Apple Records Strong Profits In Services, Wearables

Apple Projects Holiday Sales That Top Analysts’ Estimates

Apple Projects Holiday Sales That Top Analysts’ Estimates

The Apple Card launched in the U.S. in August, "and we've been thrilled by the positive reception we've seen", Cook said Wednesday on a conference call discussing Apple's fourth quarter financial results. Quarterly revenue was a record $64 billion, also outpacing Wall Street's projections of $62.99 billion. Apple's tablets remained hot. Notably, year-over-year revenue from the Mac fell from to $7.4 billion to $6.99 billion. iPad revenue, though, jumped slightly from $4 billion to $4.65 billion. Analysts were looking for revenue of $63 billion and profit of $2.84 a share. The division is Apple's second largest and its most profitable business unit. Even the lower end of that range would be an improvement from the $84.3 billion in sales Apple reported for the December 2018 quarter, a period when Apple actually had to warn investors that it was going to miss iPhone sales targets. Apple did say that this was the biggest fourth quarter they've ever had, so it's not like things are terribly grim here. It also includes Apple Pay, the App Store, iCloud and Apple Care.

The Wearables, Home, and Accessories segment, which includes the Apple Watch, AirPods, HomePod, Apple TV, and Beats headphones, generated $6.5 billion in revenue, an increase of 54%, easily topping Wall Street estimates.

Apple focused on the camera when promoting the iPhone 11 and iPhone 11 Pro this year.

This is all because of the Global Positioning System time rollover issue, according to Apple, something that happens about every 19 years when Global Positioning System devices need to reset in order to accurately measure time and dates, according to the Office of Electricity at the Department of Energy. Just released with this week's iOS 13.2 update, the technology produces sharper images with less noise.

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Epstein was found dead in his cell at the Metropolitan Correctional Center with a bedsheet around his neck on August 10. Epstein's death touched off outrage that such a high-profile prisoner could have gone unwatched.

What's more, Apple executives sound pleased about the launch of the iPhone 11 lineup.

The Services business should continue to gain momentum, thanks to last month's launch of the game subscription service Apple Arcade, as well as the impending launch of Apple TV Plus. Since this is a premium service, there are no ads and no in-app purchases to make.

That's because Apple saw iPhone sales fall during the quarter, dropping 9% from the previous year to $33.4 billion. Net profit of $13.69 billion was down 3.1% on an annual basis.

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