Apple

Apple’s (AAPL) iPhone shipments to China increased by 12% in March, UBS Securities said in a note emailed Thursday. “On Apple’s most recent earnings call, one of the biggest surprises was the disclosure that iPhone revenue increased YoY in the March quarter despite data that suggested ‘sell-through’ was down high-teens for the quarter,” UBS said. UBS highlighted that Apple’s revenue recognition policies, recognizing revenue upon shipment, partially explain the “surprise” between shipment and sell-through data. In March, Apple shipments in China rose by 12% year-over-year, while sell-through declined by 13%. Additionally, Apple reduced iPhone channel inventory during the quarter, particularly in March. “In China, we estimate sell-through was a just few hundred thousand above sell-in, modestly reducing channel inventory in that market,” UBS added. UBS has a neutral rating on Apple with a 12-month price target of $190.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AAPL is fully revamping its iPad line-up with a larger 13-inch iPad Air and new M4 chips (from M2) for iPad Pros. The Pros also possess a better Tandem OLED display panel and have better camera features (11-inch at $999, up from $799; 13-inch at $1,299, up from $1,099). The iPad Air devices get the M2 (11-inch $599, 13-inch $799), while AAPL also announced a new Apple Pencil Pro ($129) with haptic feedback and enhanced Magic Keyboard. All devices can be ordered today/available May 15 (storage for Pros start at 256GB/Air at 128GB). We believe the M4 release less than seven months after the M3 (inside Macs) indicates how AAPL is looking to accelerate hardware capabilities to meet potential new AI apps/software capabilities (eyes on WWDC) and

Apple (AAPL) said it will expand its core technology fee to iPadOS apps downloaded on its App Store later this year. “Developers operating under the new business terms for EU apps have the option to distribute their iOS apps in the EU via the App Store, Web Distribution, and/or alternative app marketplaces. These changes will also come to iPadOS later this fall,” Apple said in blog post. The Core Technology Fee, an element of the new business terms in the European Union that reflects the value Apple provides developers, is based on the number of first annual installs for an app in a 12-month period, the company said. Apple said developers whose apps do not surpass one million first annual installs per year and nonprofits, educational institutions, and government entities with an Apple Developer Program fee waiver do not pay the fee.

Apple(R) today announced financial results for its fiscal 2024 second quarter ended March 30, 2024. The Company posted quarterly revenue of $90.8 billion, down 4 percent year over year, and quarterly earnings per diluted share of $1.53. “Today Apple is reporting revenue of $90.8 billion for the March quarter, including an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “During the quarter, we were thrilled to launch Apple Vision Pro and to show the world the potential that spatial computing unlocks. We’re also looking forward to an exciting product announcement next week and an incredible Worldwide Developers Conference next month. As always, we are focused on providing the very best products and services for our customers, and doing so while living up to the core values that drive us.” “Thanks to very high levels of customer satisfaction and loyalty, our active installed base of devices has reached a

Apple (AAPL) reported fiscal Q2 diluted earnings late Thursday of $1.53 a share, up from $1.52 a year earlier. Analysts surveyed by Capital IQ expected $1.50. Sales in the quarter ended March 30 were $90.75 billion, down from $94.84 billion a year earlier. Analysts surveyed by Capital IQ expected $90.45 billion. The iPhone maker increased its cash dividend by 4% to $0.25 per share, payable on May 16 to shareholders of record on May 13. The company’s board also approved an additional repurchase program of up to $110 billion of its common shares. Shares of the company climbed more than 6% in recent after-hours activity.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AAPL posted Mar-Q EPS of $1.53 vs. $1.52, beating the $1.50 EPS estimate. Revenue fell 4%, near expectations, but a decline of only 8% in China was much better than feared (Mainland China up). By product, iPhones disappointed by declining 10% as Services grew a better-than-expected 14%. We note iPads fell 17% while Macs grew 4%. Gross margin of 46.6% widened from 44.3% a year earlier, slightly above our view, reflecting the relative outperformance in Services. Separately, AAPL announced its largest ever buyback of $110B (well above our $90B assumption that was announced the last two years) and hiked its dividend 4%, which we think demonstrates AAPL’s high conviction level for business prospects ahead. We’ll provide an update after the earnings call, but we believe these results

Apple (AAPL) has resumed talks with OpenAI to potentially incorporate the startup’s technology into upcoming iPhone features later this year, Bloomberg reported late Friday, citing people familiar with the matter. The two companies have started discussions regarding potential terms of an agreement and the integration of OpenAI features into the next iPhone operating system, iOS 18, the report said. Apple is also in talks with Alphabet’s (GOOG, GOOGL) Google about licensing its Gemini chatbots, according to the report. No final decision has been made, and there’s no assurance of a deal, Bloomberg reported. Apple may opt for agreements with both OpenAI and Google, or choose a different provider altogether, the report said.

Apple Inc. (NASDAQ:AAPL) recently released a list of its top suppliers for materials, manufacturing and assembly of its products which showed that China remains a key manufacturing base and India is ramping up production as well. Why It Matters: BofA Securities released a research note based on the list of Apple’s suppliers which named companies that could potentially benefit from an Apple product cycle. BofA named electronics manufacturers Jabil, Inc. (NYSE:JBL) and Flex, Ltd. (NASDAQ:FLEX) as potential beneficiaries and noted Apple accounted for 17% of Jabil’s revenue in 2023. Amphenol Corporation (NYSE:APH) provides connectors and antennas for the iPhone, and BofA estimates Apple accounts for single-digit revenue at Amphenol. BofA also noted glass maker Corning Incorporated (NYSE:GLW) remained on Apple’s 2023 supplier list. Related News: Apple And Tesla ‘Only Two Companies Able To Thread The Needle In Terms Of China-US’, Says Top Analyst After Tim Cook And Elon Musk’s Recent China Visits The firm maintained its Buy rating on

By Dan Gallagher Apples largest business is struggling, while the company is also losing ground in China and seems to have completely missed Big Techs AI party. That might make now a good time to buy the stock. Apples share price jumped more than 3% Monday morning after Bernstein analyst Toni Sacconaghi upgraded the stock to a buy rating. A Heard on the Street column also published Monday morning noted that the stock has been a weak performer this yearespecially relative to other big tech shares that have been lifted by the markets enthusiasm for generative artificial intelligence. Worries about the latest iPhone cycle, China, regulatory pressure in the U.S. and Europe and the companys unclear plans for its own AI play have all combined to push Apples multiple to around 25 times forward earningsin line with its five-year average, according to FactSet data. Buy the fear, was Sacconaghis advice

Apple (AAPL) is expected to “slightly beat” Q2 earnings and revenue estimates, driven by “better than expected product shipments and App Store outperformance,” Morgan Stanley said in a note to clients Monday. The brokerage expects Apple to post Q2 earnings of $1.51 per share and revenue of $91 billion, compared with consensus estimates of $1.50 and $90 billion, respectively. Morgan Stanley said investors will pay close attention to Apple’s performance in China, its updated capital return framework, and capital expenditures when the tech giant reports Q2 results after market close May 2. The firm anticipates Apple’s Q3 revenue at around $80 billion, down from the consensus estimate of $83.4 billion. The brokerage expects Apple’s Q3 earnings per share to be $1.22. Morgan Stanley cut its price target on Apple’s stock to $210 from $220, but reiterated its overweight rating.

Apple (AAPL) is likely to show a solid performance in the March quarter, with potential for slightly lower guidance for June, BofA Securities said in a note Monday. “The demand environment is weak and a lower guide for [fiscal Q2] could influence a pullback in shares,” the firm said. BofA said its fiscal Q2 revenue and EPS estimates stand a bit higher than Street estimates because it has factored in Vision Pro camera sales of up to $1 billion. BofA projects Q2 revenue of $91.5 billion and EPS of $1.53, compared with Street estimates of $90.3 billion and $1.50, respectively The tech giant’s fiscal Q2 results are scheduled for May 2, and BofA said it also expects a new $90 billion buyback authorization to be announced. BofA reiterated its buy rating on Apple with a price objective of $225, citing the company as a “top pick” in 2024 due to