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The one that no one can buy yet? That hasn’t even been announced? Yeah, that’s a real mystery.https://twitter.com/Reuters/status/773252868740640768 …
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After every quarter’s results, a dozen talking heads will say Apple must “acquire for revenue.” None will remember Cook’s statement.
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Tim Cook, in an interview, confounds experts who want Apple to make big mergers: “We don’t acquire for revenue.”http://www.washingtonpost.com/sf/business/wp/2016/08/13/2016/08/13/tim-cook-the-interview-running-apple-is-sort-of-a-lonely-job/ …
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On a personal note: This is our 80th Apple quarterly results call, marking 20 years of coverage. Thanks for reading. See you next time!
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Seeking Alpha will have an automated transcript available here later tonight:http://seekingalpha.com/symbol/AAPL/transcripts …
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And that’s it! Apple will have the audio in its Apple Quarterly Earnings Call podcast later tonight for two weeks:https://itunes.apple.com/us/podcast/apple-quarterly-earnings-call/id74942331?mt=2 …
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This is Cook’s oblique confirmation that Apple is working on entirely new product lines.https://twitter.com/macjournals/status/758058393596596225 …
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TC: “quite a bit of investment in there for products not currently shipping or derivations of products not currently shipping” (rough quote)
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Question about how much of R&D increase is about “existing products and services.” This is a way to try to ask “is this about making a car?”
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Analyst asks where the growth in September will come from and TC responds he won’t get into “products or product transitions.”
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It’s time for the Q&A!
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LM: reduced iPad channel inventory by 500,000 units
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LM: Mac installed base is at an all-time high at the end of the June quarter.
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LM: Challenging PC sales overall, IDC estimating 4% year-over-year slowdown. Still, Mac gains high percentage of new customers.
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LM: According to AppAnnie, Apple generated 100% more revenue than the Google Play store.
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LM: average amount spent on apps and content in iTunes Store is highest we’ve ever measured.
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LM: ASP for iPhone is $595 because rolled out iPhone SE while reducing channel inventory of “higher-end iPhones”
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LM: iPhone channel inventory fell by 4M units, compared to 0.5M in the year-ago quarter.
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It’s worth noting that Apple’s sales decline fit exactly within Apple’s Q2 predictions — at the lower end of those, even.
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Brent Simmons
MacJournals.com