Today in Apple history: Apple suffers first quarterly loss since Jobs’ return

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Apple is heading toward a $1 trillion market cap. Photo: Pierre Marcel/Flickr CC
Apple's stock price fell as a result of the news.
Photo: Apfellike

Dec6December 6, 2000: Apple’s stock price falls after Apple Computer posts its first quarterly loss in three years, since Steve Jobs’ return to the company.

Shares tumble $3 to just $14 a share as some doom-predicting pundits worry that the big Apple comeback story is screeching to a halt.

Little did they know…

Liveblog: Apple reveals its (relatively) meager Q4 2016 earnings

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Q3 is usually Apple's weakest quarter.
Revenues are expected to be down year-over-year.
Photo: Ste Smith

Apple is set to report its Q4 2016 earnings today, only instead of it being a time for celebration, the company is expected to announce its first annual revenue decline in 15 years.

Apple CEO Tim Cook and CFO Luca Maestri warned Wall Street that this quarter wouldn’t smash any records, but with the iPhone 7 doing better than expected, could relief be on the way?

Investors and analysts will grill Apple about how well the company expects to perform next quarter during today’s earnings call. And Cult of Mac will be right here, liveblogging the whole shebang when it starts at 2 p.m. Pacific.

Come join the fun — it’s livestreaming on Apple’s investor site.

Apple rakes in $9 billion in profit during Q4 2016

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money
Yep, Apple made a bunch of money, again.
Photo: Ste Smith/Cult of Mac

Apple today revealed its results for the fourth fiscal quarter of 2016. While the company made as much revenue as expected, it still posted its first annual revenue decline since 2001.

The good news for investors is that Apple is projecting a lot of iPhone growth next quarter. In Q4 2016, Apple earned $46.9 billion in revenue and $9 billion in profit, but in Q1 2017 Apple predicts it will rake in $76 billion to $78 billion.

Even flaming Galaxy Note 7 can’t scorch Samsung profits

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Galaxy Note 7 that exploded while charging.
Samsung's not revealing Note 7 recall costs, though.
Photo: Mr Ni/Baidu

Samsung’s booming chip and display business was enough to offset the cost of having to recall its Galaxy Note 7 smartphones, according to a Q3 regulatory filing the South Korean tech company made today.

The company’s 7.8 trillion won ($7 billion) profit grew 5.6 percent by quarter to beat expectations. However, things might be a bit more complex than they initially appear.