Tim Cook Wants A Bigger Slice Of Apple Pie From India
03 May, 2018, 14:31 | Author: Shannon Aguilar
In fact, it's worth noting that worldwide sales accounted for 65 per cent of Apple's revenue during the quarter. And so we're putting a lot of energy there and working with the carriers in that market and they're investing enormously on LTE networks and the infrastructure has come quite a ways since we began to put a lot of energy in there due to their leadership and so forth, Cook added. "And the infrastructure has come quite a ways since we began to put a lot of energy in there due to their leadership and so forth", Cook said.
Apple also will spend $100 billion more buying back its stock, a move that will enrich shareholders by helping to drive up the company's stock price. The company's repurchases in the period exceed the current market value of more than 270 firms in the S&P 500, data compiled by Bloomberg show. Piper Jaffray reissued a "buy" rating and issued a $200.00 target price on shares of Apple in a research note on Tuesday, January 2nd.
According to market research firm Counterpoint Research, the company had sold 2.9 million devices in 2016-17 compared to 2.2 million in the previous fiscal year.
With a mountain of overseas cash suddenly freed up by the tax overhaul, Apple bought back $23.5 billion of its own stock in the March quarter, a record amount for any US company, according to S&P Dow Jones Indices, and it added $100 billion to its target for future repurchases. Reportedly, Cook also assured that the company is in plans to bring all of its different initiatives "from retail and everything else" to leverage the market potential in India. And so we're working toward those things. Adding further, he said that for the time being it is ok for the company to embark on the buyout strategy but in the long run this strategy won't work.
Cook attributed Apple Pay's growth to its transit use case. "So we look at China holistically, not only as a market".
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The three main drivers of the growth were iPhone, services and wearables. "I don't see that from a market point of view.and certainly not from an iPhone point of view". But that isn't necessarily good for the hundreds of iPhone suppliers around the world, contrary to the market's initial bounce. "There's a lot that binds us together, so I'm actually very optimistic". We have seen those in the recent times with the removal of the headphone jack, the inclusion of a notch-based fullscreen display and the omission of the fingerprint sensor. "And so it seems to us that with that many feature phones being sold, that's a pretty big opportunity", Cook said.
The company reported Tuesday that iPhone sales rose by 3 percent, compared with the same time a year ago.
Operating expenses are expected to come in at $7.7 billion for the third quarter.
CEO Tim Cook said that the consumer electronics giant has set a new sales record in the first half, despite an overall slowdown in sales growth in India.
Apple's better-than-expected results stemmed in part from the sale of ancillary goodies from games to cloud storage, but none of those benefit hardware partners such as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Hon Hai Precision Industry Co (鴻海精密), whose fortunes are more closely tied to iPhone unit sales, which rose just 2.9 percent in the first quarter.
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