BI IntelligenceBI IntelligenceBI IntelligenceBI IntelligenceBI Intelligence
Notes from the call:
6:01: Thanks for tuning in, we’re done here!
6:00: Capital repatriation timeframe will be answered in the March quarter, Maestri says. Tim Cook adds: Apple’s not going into debt.
5:59: Everywhere I look I feel really good about how we’re doing in China, Tim Cook said.
5:55: HomePod question. Tim Cook goes ahead and basically reads the product page and lists its features. “Use case, much like our phones, broad-based.”
5:53: Switchers question for Tim Cook. “It’s so early on this product cycle. iPhone X started in November, we do not have data that would be meaningful to share. “
5:50: Tim Cook admits that “the replacement cycle is likely longer” in certain markets for iPhones.
5:47: “We did not consider in any way shape or form what it would do to upgrade rates” when Apple introduced the $29 battery replacement, says Tim Cook.
5:42: Question about longer replacement cycles for the iPhone. “Generally what we see with the iPhone is that the reliability is fantastic,” Tim Cook said. “iPhone reliability” seems to be a new Tim Cook talking point, especially in the wake of the CPU throttling controversy.
5:40: Tim Cook won’t talk about future products, but says the iPhone X sets Apple up for the “next decade.”
5:36: iPhone sell-through growth will accelerate in this upcoming quarter, with double-digit year-over-year growth, Maestri said, trying to soft-pedal the low guidance.
5:31: Tim Cook says iPhone X satisfaction is “off the charts.” One of his favorite phrases. In “urban China,” all of the five top smartphones were iPhones, he says.
5:30: Now it’s onto the questions. First is about bringing money home. “We’ll do it over time, because the amount is very large,” Maestri said.
5:27: Targeting “net cash neutral” over time, and will provide an update to its plans to buy dividends and buybacks next quarter, Maestri says.
5:22: New program called “Apple at Work” to encourage companies to support iPhones and help them buy Apple stuff for their employees, Maestri says.
5:21: Weekly iPhone sales were up 6% year-over-year, Maestri says.
5:20: Wearables were the 2nd largest contributor to revenue growth after iPhone, Maestri says, and were up 70% year-over-year.
5:14: Now onto CFO Luca Maestri. “All time quarterly records in nearly all markets we track,” he said.
5:10: Sales of Apple Watch Series 3, the new model, were “more than twice the volume” of Series 2 last year.
5:08: Apple Pay is now accepted in over half of retail locations in the United States, says Tim Cook. Volume tripled year-over-year.
5:07: 240 million paid subscribers for services, up 30 million in the last three months, according to Tim Cook.
5:05: iPhone X is Apple’s “top-selling iPhone” every week since it’s launched. Apple is showing “how business can be a force for good in the world,” Apple CEO Tim Cook said.
5:04: “Apple’s all-time biggest quarter ever,” says Cook. Points out that Apple had one fewer week in the December quarter this year than last year.
5:04: Apple has 1.3 billion active devices and “at an all-time high” for all products, says Tim Cook. Speaks to the reliability of the product, he said.
5:00: We’re get started. First is CEO Tim Cook and next is CFO Luca Maestri.
- Amazon’s stock jumps 6% after its 4th-quarter results beat the Street’s expectations
- Apple investors made a big bet on a rare and powerful event that’s about to pay off or fizzle in the sky
- Facebook just dropped a big hint that the News Feed’s days may be numbered