For context: the Q4 revenue/EPS results came in ABOVE sell-side consensus per Factset and Q1 guidance is also ABOVE Factset consensus on both revenues and gross margins.
Apple Q4 Results
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Re: Apple Q4 Results
#42Earlier quoted context omitted.
I updated my comment to include Six Colors's article, which has more year-over-year graphs
Most of the graphs on Six Colors have 2019-Q4 missing and some of the numbers are wrong. For example compare total revenue change for 2019-Q2 with the actual numbers in the second chart above.
... not paying close enough attention to Apples fiscal year...
Re: Apple Q4 Results
#43Earlier quoted context omitted.
Most of the graphs on Six Colors have 2019-Q4 missing and some of the numbers are wrong. For example compare total revenue change for 2019-Q2 with the actual numbers in the second chart above.
... not paying close enough attention to Apples fiscal year...
Apple’s fiscal year begins in October and ends the following September. The just released results were for the fourth quarter of the 2019 fiscal year, 2019-Q4.
Re: Apple Q4 Results
#44Net income was? Also this BS about stock buybacks and dividends to become cash neutral is stupid. They should be betting on moonshot things that will be the next iPhone instead of all of this financial engineering.
Even in 2007 when the iPhone was introduced, Jobs said he wanted Apple to have 1% of the phone market and sell $10 million. That means the phone market was already at 1 billion per year. Now it’s at 4+ billion per year. Getting in the phone market was obvious even back then.
Almost by definition, there won’t be a larger market than one that already has 80%* market penetration among adults worldwide.
Re: Apple Q4 Results
#45Earlier quoted context omitted.
Most of the graphs on Six Colors have 2019-Q4 missing and some of the numbers are wrong. For example compare total revenue change for 2019-Q2 with the actual numbers in the second chart above.
... not paying close enough attention to Apples fiscal year...
The very first sentence in the press release is "Apple today announced financial results for its fiscal 2019 fourth quarter ended September 28, 2019."
Re: Apple Q4 Results
#46What exactly is the advantage of reaching a cash neutral position? If you are a company that can reliably do that does that mean you no longer have to grow — since your investors are primarily attracted to a reliably stable ability to generate dividends?
That money can be used to make other money for shareholders, either product development, buying into other industries, financial investments, etc. Holding on to that cash isn't doing anything for them.
Re: Apple Q4 Results
#47Re: Apple Q4 Results
#48> revenue between $85.5 billion and $89.5 billion A $4B margin is a pretty big margin...
Now do Alphabet which missed EPS by 22%.
Re: Apple Q4 Results
#49Earlier quoted context omitted.
If finding "the next iPhone" just required spending large enough sums of money, then Microsoft would have beat them to the punch before the iPhone came out. In all of history there have only been a few iPhone class disruptors. They are rare, and they come based more on timing and the presence of enabling technologies than any particular company simply investing billions in R&D.
yeah, these tech giants are constantly hiring tons of people and snapping up every interesting startup that rolls along in a desperate bid to turn money into more profitable products Although I do wish Apple would buy some AAA game studios and make some AAA-quality games for their platforms..
The game market is extremely small compared to other markets.
Sony just announced their quarterly numbers. The PS4 just crossed the 100 million unit threshold over its entire lifetime. Apple sells that many phones in two quarters.
Re: Apple Q4 Results
#50What exactly is the advantage of reaching a cash neutral position? If you are a company that can reliably do that does that mean you no longer have to grow — since your investors are primarily attracted to a reliably stable ability to generate dividends?
The history is that apple had a crazy cash position partly because of the need to keep cash overseas to avoid tax on repatriation. What they did was borrow against that overseas cash to get US based on dollars. Cash neutral doesn't relate to growth, if you grew you'd need to increase cash to cover working capital needs generally (ie, Apple first has to pay for parts, inventory, factories, staff for them etc before it…
Well, they should have repatriated it. The only reason they're not is because they're hoping to get a one-time tax cut from a Republican administration, and with the amount of money involved it was worth it to wait out Obama, who wouldn't have any of it.