Services fuel Apple to historic June quarter

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Big pile of cash underneath an Apple logo.
Apple shares are trading up on the good news.
Photo: Ste Smith/Cult of Mac

Record-breaking revenue put Apple right in line with Wall Street expectations as the company released its Q3 2019 earnings report today.

The iPhone-maker brought in $53.8 billion in revenue, a number within range of its own guidance and most analysts’ predictions. That set a new record for Apple third-quarter revenue — a slight gain from Q3 2018’s $53.3 billion. CEO Tim Cook touted the company’s subscription offerings for fueling the new all-time high.

Citigroup reportedly pulled out on Apple Card deal

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Apple Card
Apple Card might be the most consumer-friendly credit card ever.
Photo: Apple

One of Goldman Sachs’ biggest rivals pulled out on a deal that would have made it the bank backing Apple Card.

Citigroup reportedly was in advanced negotiations with Apple but pulled out of the Apple Card deal due to doubts that it will be profitable.

Apple breezes past Wall Street forecasts with $58 billion in revenue

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quotes on Apple
It's "Get a bag Tuesday" and Tim Cook is cashing in.
Photo: Cult of Mac

Apple revealed its Q2 2019 earnings report and despite some pessimism from analysts, the company managed to beat Wall Street’s expectations.

Revenue for the quarter came in at $58 billion, slightly above Apple’s own guidance to investors. Most of Wall Street analysts were predicting the company would only bring in between $54 billion to $57 billion for the quarter. Better yet, the company’s guidance for next quarter is stronger than expected, signifying that the doom-and-gloom may have been severely overstated.

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Apple is worth more than the entire US energy sector combined
Apple is worth more than the entire US energy sector combined
Photo: Ste Smith/Cult of Mac

Live blog: Apple gives investors first look at iPhone XS sales

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Apple earnings
Apple's Q2 earnings are expected to be a bit of a downer.
Photo: Ste Smith/Cult of Mac

Apple’s last earnings call of 2018 kicks off in an hour, and it’s shaping up to be the company’s biggest Q4 report ever.

Shares of Apple stock have been on an upward trend the last few days as investors eagerly await their first glimpse at iPhone XS sales figures. Apple CEO Tim Cook and CFO Luca Maestri are set to get on the phone with investors at 2 p.m. Pacific this afternoon. We’ll be right here live-blogging all the action with as much witty analysis as we can must.

Come join the fun!

5 things to watch for during Apple’s last earnings report of 2018

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Tim Cook likes his currency the old-fashioned way.
Illustration: Ste Smith/Cult of Mac

Hot on the heels of Tuesday’s big keynote, Apple is set to unleash its final earnings report of 2018 on Thursday, November 1. The report will give investors their first glimpse into how well the iPhone XS and iPhone XS Max are selling.

Apple shares are trading up again today after climbing Tuesday, signaling that Wall Street is pretty optimistic about Apple’s ability to rake in the cash. Tim Cook and Apple CFO Luca Maestri are set to get on the phone with investors at 2 p.m. Pacific today — and there are some key areas investors will be watching intensely.

Trump’s tariffs would make Apple gear more expensive

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No, Donald Trump didn’t open Mac Pro factory yesterday
Trump's trade war with China will hit consumers' wallets the hardest.
Photo: Gage Skidmore/Flickr CC

President Trump’s latest list of proposed tariffs on products manufactured in China would have a negative impact on some of Apple’s most popular products.

In a letter sent to the U.S. Trade Representative, Apple says the Apple Watch, AirPods and Apple Pencil would be caught in the crossfire of Trump’s escalating trade war with China. And regular consumers stand to lose the most.

The biggest takeaways from Apple’s dominant Q3 earnings results

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Apple is made of money.
Apple is made of money.
Photo illustration: Ste Smith/Cult of Mac

Apple beat Wall Street’s expectations today with its Q3 2018 earnings report. Even though iPhone sales were barely up 1% the company still posted better-than-expected revenues as sales of Apple Watch, services and AirPods picked up the slack leading to Apple’s best Q3 results ever.

Prices of Apple shares skyrocketed closer to the illustrious $204 mark that will make the iPhone-maker the first ever trillion dollar company once the results posted and Tim Cook seemed extremely confident and relaxed on his call with investors this afternoon. While the rest of tech stocks are starting to sink, Apple is as steady ever.

Apple surprises Wall Street with record-breaking Q3 profits

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Big pile of cash underneath an Apple logo.
Apple is a money-making machine.
Photo: Ste Smith/Cult of Mac

While the rest of the tech industry’s earnings are in a slump, Apple just posted its biggest Q3 earnings report ever.

Investors were expecting Apple to post at least $51 bilion in revenue, but the iPhone-maker has come away with $53.3 billion in income, marking a 17% increase from last June quarter. iPhone sales came in at 41.3 million units sold for the quarter which has Apple CEO Tim Cook absolutely stoked.