Samsung will take $5.3 billion hit from Note 7 recall

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Galaxy Note 7 water wet
The Note 7 is all washed up.
Photo: Killian Bell/Cult of Mac

Issuing a global recall for the Galaxy Note 7 is going to cost Samsung even more money than it expected.

Samsung released a statement to investors today revealing that its fiery phablet will hurt overall profits for the next two fiscal quarters, costing the company a total of $5.3 billion.

Apple might cut iPhone 6s production by up to 30% this quarter

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iphone-6s-rose-gold
Is iPhone growth starting to stall?
Photo: Apple

Apple will be allegedly reducing orders of the iPhone 6s and iPhone 6s Plus to suppliers by as much as 30 percent this quarter. iPhone 6s and 6s Plus sales are apparently considerably less than that of the iPhone 6 and iPhone 6 Plus in the year-ago quarter. If this is true, it seems that Apple has been making too much supply for simply not enough demand.

On this week’s CultCast: Apple’s best quarter ever and Indiana Jones … rebooted?

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Does Indiana Jones need a reboot?
Does Indiana Jones need a reboot? Photo: Disney

This week: Apple has its best quarter ever, Apple Watch is coming in April and the best parts of the iOS 8.1.3 and Yosemite 10.10.2 updates. Plus, Disney considers a reboot of the beloved Indiana Jones movies, and then things really go off the rails in Facts of Life, a new game where we mix real facts with fake ones, then guess which is which!

Our thanks to Varidesk for supporting this episode. With models starting at just $275, Varidesk is a high-quality, inexpensive way to get started with a standing desk. And you should absolutely check them out, because moving to a standing desk will change your life.

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Read on for full show notes.

Apple’s Fourth Quarter Financials At A Glance [Charts]

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bythenumbers

As you may have seen in our previous post on Apple’s fourth quarter (Q4) financial report, the Cupertino company has beat out Wall Street expectations this quarter, showing off a revenue of $37.5 billion with a hefty 7.5 billion profit to go along with it.

To help you make sense of Apple’s business this quarter, as well as some general trends of the last five years, we’ve taken it upon ourselves to put together some charts in an easy-to-read format to show you how the numbers break down, from revenue and profit margins to how many devices Apple is selling, to how much money it’s making from those sales.

Let’s take a look at some of the numbers in visual form, and see what we can take from it.

TVs Keep Foxconn Revenue Up As Apple Orders Fall

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foxconn

Photo: Foxconn

Despite “weaker” orders from Apple during the second quarter, Foxconn managed to post revenue that beat analyst estimates thanks to its increased focus on televisions. The company announced revenue of NT$897 billion ($30 million) over the three-month period, which is 0.6% higher than its second-quarter revenue for 2012, and better than the NT$829 billion expected by analysts.

Analysts Expect Apple To Announce Revenues Between $41 Billion And $43 Billion

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applemoney

Apple will announce its second quarter financial results at 5 p.m. EST today, and this could be one of the company’s most interesting earnings calls for some time. Wall Street has been less than optimistic about the Cupertino company’s recent performance, and some believe that Apple will post its first quarter of negative growth income for over a decade.

But some analysts are a little more positive. According to averages put together by Yahoo! Finance, Apple is likely to announce revenue between $41 billion and $43 billion for the second quarter, with margins between 37.5% and 38.5%.

Apple Profit Probably Fell For The First Time In A Decade

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Tim Cook, Phil Schiller and others sold Apple stock at a time when it was hitting record highs.
Tim Cook, Phil Schiller and others sold Apple stock at a time when it was hitting record highs.

Apple’s quarterly profit probably fell for the first time in over a decade, thanks to new products with lower profit margins and a slowing demand for the iPhone, Bloomberg reports. Fourteen analysts have reduced their estimates for Apple in recent weeks, and on Friday, the Cupertino company’s share price fell below $400 for the first time since December 2011.

Apple Board Changes Its Mind, Now Requires Execs To Hold Triple Their Salary In Stock Options

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Stock continues to tank, but the ca
Time to tie executive salaries to stock performance, right?

According to a newly-posted shareholder document, Apple now requires executive officers to own three times their annual salary. The CEO is still required to hold ten times his own annual salary in stock, as well.

This current move, as reported by the Wall Street Journal, comes a month after Apple’s board actually opposed a similar measure proposed by a shareholder.