Tomorrow’s Apple earnings are just the calm before the storm

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Photo: Roberto Baldwin/The Next Web
Photo: Roberto Baldwin/The Next Web

Don’t expect anything too exciting from Apple’s third quarter earnings tomorrow.

This is Apple’s slowest part of the year. The summer slump means no new hardware, which means no explosive sales growth. But that’s alright, because the best is yet to come.

Tim Cook and co. have promised that truly epic things are coming in the fall, and Wall Street is actually excited about Apple again.

CultCast: Details on Apple’s big split, plus how to save on your next Mac

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ozcast-iPad-Mini

We never thought they’d do it, but Apple is splitting their stock 7-to-1—and on our newest CultCast, we discuss that and other surprising (and non-boring) notes from their recent financial call. Plus, the best way to get the Apple stuff you want at lower prices; OS X betas now available to all; Apple Maps spots Nessie; Apple celebrates Earth Day with some great new marketing; why we’re crazy about Apple Campus 2; and forget Ashton, how about Leonardo DiCaprio as the next Steve Jobs?

LOL your way through each week’s best Apple stories! Stream or download new and past episodes of The CultCast now on your Mac or iDevice by subscribing on iTunes, or hit play below and let the audio adventure begin!

And thanks to our friends at New Relic for sponsoring this episode. Yes, New Relic, the all-in-one web application performance management tool that lets you see performance from the end user experience, through servers, and down to the line of application code. Put simply, New Relic helps the people who build modern software understand the stories their data is trying to tell them. If you’re ready to make your software run better, head over to http://newrelic.com/cultcast for a free 30 day trial.

Click on for the show notes.

Icahn Do It Anymore: Activist Investor Drops Call For Apple Stock Buyback

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Carl Icahn is coo-coo for AAPL.
Carl Icahn is coo-coo for AAPL.
Photo: Forbes

Carl Icahn has backed off campaigning Apple to increase its stock buyback — citing the company’s recent repurchases, along with influential proxy adviser ISS’s call against his proposal.

In a letter directed to Apple shareholders, Icahn noted that he was ditching his non-binding proposal to get Apple to add a further $50 billion to its buyback plan — down from the original $150 billion he was initially requesting.

Apple Share Prices Fall After Wells Fargo Downgrades Its Rating [Report]

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Apple suppliers are enjoying huge revenue boosts thanks to the iPhone 6
Apple suppliers are enjoying huge revenue boosts thanks to the iPhone 6

Apple’s shares closed at 1.4 percent lower for Tuesday’s trading — ending the day at $553.13.

The reason in a nutshell: that Wells Fargo changed its rating for Apple from “outperform” to “market perform”. While this downgrade wasn’t accompanied by a change in valuation (which remains in the $536 to $581 range) the rating essentially shifts recommendation away from “buy” to “neutral” (which actually means “sell”).