Economy

Apple Forecast Tops Analysts' Estimates on New IPhones, Services

Apple Forecast Tops Analysts' Estimates on New IPhones, Services

Apple sold 41.3 million iPhones in the fiscal third quarter, below expectations of 41.8 million units, but the average iPhone selling price hit $724, beating analyst expectations of $694, according to data from FactSet.

What's propelled Apple's June earnings high and its ability to defy the challenges faced by rival tech stocks this quarter? iPhone revenue was higher than estimated.

By the time Apple takes the wraps off its new iPhones this fall, most people in the crowd will already be able to draw the phones from memory at the rate leaked images of the devices are appearing.A day after photos of dummy iPhone units popped up online, videos of those same two models are now circulating.

Three dead, seven injured in New Orleans shooting
Two women react to the scene where 10 people were shot, 3 of whom have died. "Three more lives - gone". Seven other victims - five men and two women - were injured, at least one of them critically .

As with several recent quarters, the biggest success story is Apple's services business, which includes Apple Music, iCloud, Apple Pay, the App Store, AppleCare, and more. In the last quarter, Apple's services made $9.5 billion, making it the second-largest business segment for the firm.

The company reported per-share earnings of $2.34 for the quarter, up 40% from the same time a year ago and handily beating analysts' consensus estimates of $2.18. It rose 31 percent compared to the same quarter previous year, putting it at $9.54 billion. With a market capitalization of US$938.7 billion at market close on Monday, Apple is tickling at the title of world's first trillion-dollar company. In order to stay dominant at the top of the market, Apple has to find another mechanism to feed its shareholders the profit they demand.

Apple posted third-quarter revenue of US$53.3 billion and profits of US$2.34 per share, compared with analyst estimates of US$52.3 billion and US$2.18 per share, respectively, according to Thomson Reuters I/B/E/S. The revenue included US$236 million from resolving lawsuits such as Apple's long-running dispute with Samsung Electronics Co Ltd.

Zimbabwe's Mugabe says he won't vote for successor Mnangagwa
With 5.6 million registered voters, the results of the presidential, parliamentary and local elections are due by August 4. The media briefing by the former Zimbabwean leader was attended by both local and global media.

Shares rose almost 3 percent in after-hours trading, from a $190.29 per share close - edging the company closer to its pursuit of a $1 trillion market value.

Shares in the Silicon Valley-based technology titan rose 3.96 percent to $197.83 in after-hours trade that followed release of the earnings figures.

Apple's margins are facing pressure as it moves to put pricier components, such as OLED displays that show more vivid colors, into its products. Net income was $11.5 billion, up 32.1% year-on-year, and gross margin was 38.3%, down about 0.2 percentage points.

Palestinian teenager Ahed Tamimi returns home
Since 2009, residents of Nabi Salah have staged regular anti-occupation protests that often ended with stone-throwing clashes. The separation wall cutting the West Bank off from Israel is filled with graffiti in support of the Palestinian cause.

Apple's chief executive Tim Cook said: "We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth".


  • Better with age? Cruise's latest 'Impossible' tops box office

    Better with age? Cruise's latest 'Impossible' tops box office

    The climax of the film is set in Kashmir and both director McQuarrie and star Tom Cruise have gone at length about featuring the region in the film.
    EA Origin Access Premier: Price, Release Date, and How It's Different

    EA Origin Access Premier: Price, Release Date, and How It's Different

    EA is launching Origin Access Premier - an unlimited PC gaming subscription service - next week, reported The Verge . It's not a bad deal, but it's limited in scope, which is why it'll become Origin Access Basic when Premier debuts.
    Longest Total Lunar Eclipse of the century on July 27, 28

    Longest Total Lunar Eclipse of the century on July 27, 28

    Before you get all excited about watching the blood moon , read these interesting science facts about lunar eclipse 2018. Even more compelling, we know that simple lifeforms were already plentiful on Earth 3.5-3.8 billion years ago.
  • Vettel puts mourning Ferrari ahead of Red Bull

    Vettel puts mourning Ferrari ahead of Red Bull

    The story of 2018 season so far, as expected, is between Mercedes' Lewis Hamilton and Ferrari's Sebastian Vettel . Judging from the stats alone, Hamilton's time at Mercedes has been more successful - no surprise there really.
    White House defends decision to bar CNN reporter

    White House defends decision to bar CNN reporter

    President Donald Trump give a joint news conference at the Presidential Palace in Helsinki, Finland, on Monday, July 16, 2018. He is alleged to have failed to confront the Russian leader publicly over the country's interference in 2016 USA election.
    Amazon sales up 39% as Jeff Bezos praises rise of Alexa

    Amazon sales up 39% as Jeff Bezos praises rise of Alexa

    Hiking the annual United States price of Prime 20 percent during the second quarter showed few signs of discouraging sign-ups. Amazon threatens to match, or even eclipse, Apple's market value, which would make it the world's most valuable company.
  • Thieves Steal Shark From Texas Aquarium By... Disguising It As A Baby

    Thieves Steal Shark From Texas Aquarium By... Disguising It As A Baby

    Surveillance video taken at about 2 p.m., captures a man leaning over into the exhibit and emerging with the shark in a net. Salvaggio said that one of the men had knowledge of aquariums and likely went to the aquarium specifically for that shark.
    Steve Kerr says he's not concerned about LeBron James

    Steve Kerr says he's not concerned about LeBron James

    Whether the Warriors or Lakers win the title next year, I can promise you that the Lakers will have banner number 17 by 2020. James got loose with the kids, and by "got loose" I mean that he put on a pregame dunk show for those in attendance.
    Putin ready to go to Washington, invites Trump to visit Moscow

    Putin ready to go to Washington, invites Trump to visit Moscow

    Trump had initially invited Putin to Washington this fall for a follow-up meeting to their controversial Helsinki summit . We are ready for such meetings.
  • Powerful 6.4-magnitude quake strikes Indonesia: USGS

    Powerful 6.4-magnitude quake strikes Indonesia: USGS

    Five children were among those killed by the 6.4-magnitude tremor, which sent people running in panic and triggered landslides. At least 10 people were killed and dozens injured after a 6.4-magnitude quake struck Indonesia's Lombok island .
    Manchester United vs. Liverpool - Football Match Report

    Manchester United vs. Liverpool - Football Match Report

    It's a preseason game so if you make mistakes you should lose - that's OK and if you learn from it that's OK. United have now played four games in the States and won only one of them - on penalties against AC Milan.
    Where to Watch The Century's Longest Lunar Eclipse

    Where to Watch The Century's Longest Lunar Eclipse

    As it rose, during this total eclipse , Earth's natural satellite turned a striking shade of red or ruddy brown. Viewers received an extra treat, with Mars competing for attention, sparkling brightly.