Technology

Apple’s (NASDAQ:AAPL) Q1 sales fell more than expected, as economic and supply issues weighed on earnings

Apple (NASDAQ:AAPL) reported a holiday season sales decline that exceeded Wall Street fears, highlighting the impact of the economic slowdown and ongoing supply issues. The company announced Thursday that first-quarter revenue reached $117.2 billion, down from Wall Street’s forecast of about $121.1 billion. Apple shares fell in after-hours trading. Over the past year, demand for smartphones and computers has declined. Timing is another issue: The company didn’t launch new Macs and HomePods until recent weeks, missing the end of the first quarter. Apple did not provide a second-quarter revenue outlook, continuing its usual practice since the beginning of the pandemic in 2020.

Apple’s (NASDAQ:AAPL) Q1 sales fell more than expected, as economic and supply issues weighed on earnings Read Post »

Apple (NASDAQ:AAPL) fiscal first-quarter Greater China revenue of 23.9 billion yuan, down 7% year-over-year

Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue in Greater China was US$23.905 billion, down 7% year-on-year. Revenue from Europe, Japan and the rest of Asia Pacific was US$27.681 billion, US$6.755 billion and US$9.535 billion, respectively, all down year-on-year.

Apple (NASDAQ:AAPL) fiscal first-quarter Greater China revenue of 23.9 billion yuan, down 7% year-over-year Read Post »

Apple (NASDAQ:AAPL) Q1 Wearables, Home Products and Accessories revenue was $13.482 billion, down 8.3% year-over-year

Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue from wearables, home products and accessories was $13.482 billion, compared with $14.701 billion in the same period last year, which missed analysts’ expectations of $15.23 billion.

Apple (NASDAQ:AAPL) Q1 Wearables, Home Products and Accessories revenue was $13.482 billion, down 8.3% year-over-year Read Post »

Apple’s (NASDAQ:AAPL) Q1 iPad revenue was $9.396 billion, up 29.6% year-over-year, beating analysts’ expectations

Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue from the iPad was $9.396 billion, compared with $7.248 billion in the same period last year, beating analysts’ expectations of $7.76 billion.

Apple’s (NASDAQ:AAPL) Q1 iPad revenue was $9.396 billion, up 29.6% year-over-year, beating analysts’ expectations Read Post »

Alphabet (NASDAQ:GOOGL) will adjust its earnings report next quarter: AI research division will disclose separately

Google parent company Alphabet (NASDAQ:GOOGL) reportedly announced in its fourth-quarter earnings report that the company will adjust the way AI investments are disclosed in the future. Although the previous DeepMind AI research division has been hidden in the “Other Bets” category, it will be disclosed as part of Alphabet’s costs in the future, reflecting the increasing use of related technology in all departments such as Google Services and Google Cloud.

Alphabet (NASDAQ:GOOGL) will adjust its earnings report next quarter: AI research division will disclose separately Read Post »

Apple’s (NASDAQ:AAPL) iPhone sales fell for the first time in three years

Not only did Apple’s (NASDAQ:AAPL) fourth-quarter revenue and profit fall short of expectations, but sales of its star product, the iPhone, fell for the first time since 2020. iPhone sales in the fourth quarter were US$65.78 billion, lower than the expected US$68.3 billion, down 8.2% year-on-year, the first year-on-year decline since the third quarter of 2020, mainly due to the disruption of high-end flagship mobile phone production in the fourth quarter of last year by the epidemic.

Apple’s (NASDAQ:AAPL) iPhone sales fell for the first time in three years Read Post »

Apple (NASDAQ:AAPL) had revenue of $117.15 billion in Q1 2023

Apple (NASDAQ:AAPL) revenue for the first quarter of fiscal 2023 was $117.15 billion, versus market expectations of $121.14 billion; Q1 IPHONE revenue was US$65.78 billion, market expectations were US$68.3 billion, first-quarter services revenue was US$20.77 billion, market expectations were US$20.47 billion, first-quarter Greater China revenue was US$23.91 billion, market expectations were US$21.8 billion;In the first quarter, Mac revenue was $7.74 billion, compared with market expectations of $9.72 billion; iPad revenue in the first quarter was $9.40 billion, market expectations were $7.78 billion; and first-quarter wearables, home and accessories revenue was $13.48 billion, market expectations were $15.32 billion.

Apple (NASDAQ:AAPL) had revenue of $117.15 billion in Q1 2023 Read Post »

Google’s parent company Alphabet (NASDAQ:GOOGL) had revenue of $76.05 billion in Q4 2022

Google’s parent company Alphabet had revenue of $76.05 billion in the fourth quarter of 2022, compared with analysts’ expectations of $76.51 billion; Google services revenue in the fourth quarter was $67.84 billion, compared with analysts’ expectations of $68.9 billion; Google Cloud revenue in the fourth quarter was $7.32 billion, analysts expected $7.3 billion; fourth-quarter earnings per share were $1.05, analysts expected $1.179; and fourth-quarter net profit was $13.624 billion, analysts expected $15.361 billion.

Google’s parent company Alphabet (NASDAQ:GOOGL) had revenue of $76.05 billion in Q4 2022 Read Post »

Qualcomm Inc.(NASDAQ:QCOM) adjusted revenue for Q1 2023 was $9.46 billion

Qualcomm’s (NASDAQ:QCOM) adjusted revenue for the first quarter of 2023 was $9.46 billion, compared to analysts’ expectations of $9.61 billion; first-quarter adjusted earnings per share were $2.37 versus analysts’ expectations of $2.35; second-quarter revenue was expected to be $8.7 billion to $9.5 billion, compared with analysts’ expectations of $9.58 billion; and second-quarter adjusted earnings per share were expected to be $2.05 to $2.25, versus analysts’ expectations of $2.29.

Qualcomm Inc.(NASDAQ:QCOM) adjusted revenue for Q1 2023 was $9.46 billion Read Post »

Piper Sandler: Upgraded Meta Platforms (NASDAQ:META) from neutral to overweight

Piper Sandler analyst Thomas Champion upgraded Meta Platforms (NASDAQ:META) to overweight from neutral and raised its price target to $215 from $136. The analyst said in the research note that Meta’s spending guidance for fiscal 2023 was significantly lowered, resulting in a “significant increase” in free cash flow forecasts. Analysts believe that despite the difficulties in the advertising market and the fact that the company’s investment in the metaverse space has not compromised, the dramatic change in this quarter’s results justifies the company to receive a more constructive rating.

Piper Sandler: Upgraded Meta Platforms (NASDAQ:META) from neutral to overweight Read Post »

Meta Platforms (NASDAQ:META) expects investments to drive corporate spending to continue to rise in 2023

Meta Platforms (NASDAQ:META) said expected investments in data center capacity, servers, network infrastructure and number of employees will drive the company’s expenses to continue to rise in 2023, which is expected to adversely affect operating margins and profitability.

Meta Platforms (NASDAQ:META) expects investments to drive corporate spending to continue to rise in 2023 Read Post »

JPMorgan Chase: Raised Meta Platforms (NASDAQ:META) price target to $225 from $150

JPMorgan Chase & Co. pointed out that Meta Platforms (NASDAQ:META) exceeded expectations in Q4 last year, and CEO Zuckerberg designated 2023 as the “year of efficiency”, in sharp contrast to last year’s Q3 earnings report, and believes that its current internal policy will promote long-term development. The bank pointed out that the results showed that Meta performed well in a challenging macro environment, with improved e-commerce ad spending, strong growth in Instagram short video platforms Reels and click-through advertising (CTM), innovation driven by artificial intelligence technology, and changes in platform privacy protection measures. Lower costs have been the biggest driver in the near term, with Meta expecting total spending to fall by $5 billion this year to $89 billion to $95 billion, beating expectations. Xiaomo said that it remained bullish on Meta, raising its target price to $225, corresponding to the 2024 GAAP EPS forecast of about 17.5 times, reiterating

JPMorgan Chase: Raised Meta Platforms (NASDAQ:META) price target to $225 from $150 Read Post »

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