Tag: tech

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During the Apple earnings call, Apple CEO Tim Cook shared that half of Fortune 100 companies have purchased Apple Vision Pro units.

Apple Vision Pro is the first spatial computer from Apple and has proven to be a controversial entry in the product lineup. It launched in February 2024, and very little has been shared about how it is selling.

There isn’t a line item in Apple’s earnings for Apple Vision Pro, but CEO Tim Cook shared a tidbit of interest during the Q2 earnings call. He said Apple Vision Pro has been purchased by half of Fortune 100 companies.

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Apple stock was having a tough year after some early gains — until investors erased the loss after Thursday’s earnings report.

Investment firm Bernstein was right when it told clients to buy Apple stock because it was at an attractive low price. At the close of trading on Thursday, Apple’s shares were at $173.03

In aftermarket trading, they have increased. A lot.

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Ahead of Apple’s second-quarter earnings call, CEO Tim Cook addressed the ongoing antitrust lawsuit filed by the US Department of Justice, calling it “misguided.”

Apple’s second-quarter earnings, which surpassed Wall Street predictions, highlight the company’s financial strength and resilience. In the same breath, CEO Tim Cook addressed the ongoing antitrust lawsuit filed by the US Department of Justice (DOJ), dismissing it as misguided and affirming it’s not a distraction for Apple.

“I think the case is misguided, and we’re going to fight it,” Cook said in a comment to CNBC. ” It’s my job to make sure it doesn’t become a distraction. And so, you know, if you look at what they’re trying to do, is essentially use the law to define how we design products. And that shouldn’t be like that.”

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After revealing Apple’s Q2 earnings, CEO Tim Cook shared he “feels great” about China due to beating expectations in a competitive environment.

Apple earned $90.8 billion in the March quarter, beating Wall Street estimates. The company saw an 8% sales drop year-over-year in China, but despite the drop, it was less severe than initially expected.

The iPhone has struggled to see much growth in China due to increased competition from premium smartphone vendors. However, things were going to be much worse, and Apple CEO Tim Cook told CNBC in a live TV segment that he’s focused on the long term.

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Alongside disclosing its earnings for Q2 2024, Apple also announced that it is increasing the dividend it pays to shareholders by 4%, and is also buying back more stock in one program than ever before.

During its quarterly earnings report, Apple’s CFO Luca Maestri described “very high levels of customer satisfaction and loyalty,” as reasons for undertaking the company’s largest-ever stock buyback.

“Given our confidence in Apple’s future and the value we see in our stock,” he said in a statement, “our Board has authorized an additional $110 billion for share repurchases.”

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Apple has released its financial results for the Q2 2024 quarter, with earnings beating predictions despite China iPhone fears.

Following after the improved Q1 2024 results, Apple has issued its Q2 results. Typically the second quarter figures are lower than Q1 and its high quarterly sales.

The figures were released on Tuesday, ahead of the customary analyst and investor conference call. During the call, CEO Tim Cook and CFO Luca Maestri are expected to expand on the figures and comments made in the results release.

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