Tech & Science Delayed iPhone 12 depresses Apple's quarterly profit

04:50  30 october  2020
04:50  30 october  2020 Source:   pressfrom.com

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Analysts expect Apple ' s revenue to barely increase from a year earlier because of a delay in iPhone 12 sales due to the pandemic. The COVID-19 pandemic shut down many factories earlier in the year, including some supplying parts for iPhones , forcing Apple to delay introducing its new models this

Apple ( AAPL ) is set to announce its fiscal Q3 2020 earnings after the bell on Thursday, just a day after CEO Tim Cook’ s scheduled appearance before the House Judiciary Committee to discuss antitrust allegations against the tech giant. Much of the earnings focus, however, will be on whether Cook and

The delayed market launch of the iPhone 12 brought Apple a profit decline in the past quarter. The company earned just under $ 12.7 billion - 7.4 percent less than a year earlier.

Apple-CEO Tim Cook präsentierte das neue iPhone 12 erst Mitte Oktober. © Apple / PA Media / dpa Apple CEO Tim Cook only presented the new iPhone 12 in mid-October.

Sales in the fourth fiscal quarter, which ended at the end of September, rose by one percent to 64.7 billion dollars, as Apple announced. This was ensured by increased business with iPads and Mac computers and services, among other things.

Apple has been introducing the new iPhone generations in September for years - traditionally they still contribute to the quarter's revenue. This year, however, the development was delayed in view of the Corona crisis and the four models of the iPhone 12 were only presented in October. IPhone sales now dropped by a fifth to around $ 26.4 billion year-on-year. That was below the analysts' expectations.

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Apple iPhone 12 Max, iPhone 12 Pro Max, iPhone 12 sizes based on multiple leaks. Speaking on an earnings call following the publication of Apple ’ s (stratospheric) third- quarter earnings, company CFO Luca Maestri revealed the iPhone 12 line up will be delayed .

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This week’ s Apple Loop includes the delay and the price increase to the iPhone 12 , the success of the iPhone SE, the new Intel iMac, the MacBooks take on the Chromebooks, the MacOS 11 public beta, iPad sales success, and more

If the iPhone 12 does get pushed until 2021, it could mark the first time in the iPhone 's history that Apple misses a smartphone launch. Apple ' s 'worst-case scenario' could mean that 2020 is the first year without a major iPhone launch since 2007, analyst says.

.73 per diluted share, compared to revenue of .0 billion and

The exciting question will now be whether the Christmas quarter is going as well as usual for the iPhone. CFO Luca Maestri said in a conference call with analysts that the group expects growth in the business. Among other things, the new iPhones are equipped for the first time for super-fast 5G radio data transmission. In view of the corona uncertainties, Apple did not provide a specific forecast for the quarter. Apple shares temporarily lost around four percent in after-hours trading.

The iPhone is still the most important Apple product, but its share in the group's business was now lower than it has been for a long time. It brought in around 41 percent of total sales - in previous years it was sometimes two thirds. According to calculations by the market research firm IDC, iPhone sales fell in the past quarter by around ten percent year-on-year to 41.6 million devices. Apple boss Tim Cook left it open as to whether the economic consequences of the Corona crisis would have contributed to this in addition to the lack of a new generation of iPhones. He thinks it is possible, but it is difficult to measure.

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Good news for Apple fans. Production looks ready to start on the iPhone 12 ahead of a launch later this year. Tan often refers to Apple this way. This time, the executive said the delay will mean the bump in wireless revenue experienced by Broadcom will happen one quarter later than usual this year.”

Apple ’ s iPhone 12 , as we presume it will be called, is expected later this year. So, what can we expect, and when, exactly? A new report has suggested When I talked to Apple just before the launch of the iPhone X, they revealed that the design had been finalized in the November before the release in the

Apple has been successful in compensating for declines in the iPhone in recent years with services such as subscriptions for music streaming or online storage as well as income from its app platform. The group now has 585 million paying customers for its subscription offers. The services business is now the company's second-largest source of revenue, with sales of a good $ 14.5 billion in the last quarter - an increase of 16 percent.

In addition, the Apple Watch computer clock and AirPods earphones have become successful add-on products. Cook emphasized that there were still delivery bottlenecks for some models of iPads, Macs and the Watch.

Sales with Macs rose in the past quarter by 29 percent to a good nine billion dollars. This could be due to the expensive Mac Pro for professional users, among other things. The iPad business grew 46 percent to $ 6.8 billion.

In the entire fiscal year, Apple increased sales by 5.5 percent to $ 274.5 billion. Annual profits rose four percent to $ 57.4 billion. Apple now has $ 192 billion in cash and $ 112 billion in debt. The company had borrowed money while the foreign profits were stored outside the country until the US tax reform.

Toyota ramps up full-year forecasts as sales recover .
Toyota on Friday almost doubled its full-year forecasts, saying sales and production were recovering quickly from the coronavirus pandemic, which has shredded the global auto market this year. Japan's top car maker now projects net profit of 1.42 trillion yen ($137 billion) for the fiscal year to March 2021, up from an earlier estimate of 730 billion yen. It said full-year sales are now expected to hit 26 trillion yen, against a previous estimate of 24 trillion yen.Results for the first half appeared sluggish compared with the previous year, with net profit down 45.3 percent at 629.4 billion yen.

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