The biggest takeaways from Apple’s dominant Q3 earnings results

By

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

By

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.

Panicked Apple investors shed stocks quickly during iPhone X scare

By

apple money
Remember the iPhone X flop that never happened?
Photo: Ste Smith/Cult of Mac

Remember how Apple was doomed earlier this year, and how the iPhone X was a massive flop — only for Apple to pull out a record March quarter and prove everyone wrong? Well, it seems that a large number of folks took the Apple failure narrative pretty seriously.

According to a new report, during the first three months of this year, institutional investors reduced their holdings in Apple at a greater rate than any time since the 2008 financial crisis. In total, that added up to around 153 million shares sold.

Apple closes in on $1 trillion market cap

By

Big pile of cash underneath an Apple logo.
Warren Buffet wants to buy 100% of Apple.
Photo: Ste Smith/Cult of Mac

The race to become the world’s first $1 trillion company is nearly complete with Apple share prices soaring on the stock market today.

Trading of AAPL stock hit 187.60 per share during the morning trading hours today, putting the company just $55 billion under the coveted $1 trillion market cap mark.

Is iPhone X really a flop? We’ll know for sure tomorrow

By

Apple earnings
Investors are hoping for good news from Tim Cook.
Photo: Ste Smith/Cult of Mac

The second Apple earnings report of 2018 is set to come out on May 1 and Wall Street’s top analysts are worried that disappointing news is on the horizon.

Rumors have been circulating for months that iPhone X sales have been far weaker than Apple expected. The company’s stock price has been slipping in the last two weeks leading up to the Q2 2018 earnings report. Everyone’s waiting to see if Apple can pull out another surprise, but the signs don’t look too promising.

Per usual, Cult of Mac will be here to live blog all the action as it transpires on Tuesday, May 1, at 2 p.m. Pacific. Here’s what to watch for on the call:

Is iPhone X really too expensive? We’ll find out May 1.

By

Apple earnings
Mark your calendars for Apple's next earnings call.
Photo: Ste Smith/Cult of Mac

The date for Apple’s second financial earnings call of 2018 was revealed on its investors’ website today, setting Tuesday, May 1, as the big date.

Apple has reportedly been facing slumping iPhone sales amid waning demand for the iPhone X. Investors will find out just how bad (or good) the sales figures are when Tim Cook and CFO Luca Maestri go over all the numbers at 2 p.m. Pacific. Per usual, Cult of Mac will be here live-blogging the whole thing.

Spotify is finally going public

By

Spotify
The Spotify IPO is finally here.
Photo: Jim Merithew/Cult of Mac

Apple Music’s biggest competition is about to get an influx of Wall Street cash.

Spotify finally filed documents for an initial public offering, after rumors of going public had been floating around for years. According to reports, the company could be worth as much as much as $23 billion, but it’s still not profitable.

Apple beats expectations in historic Q4 earnings

By

Apple earnings
Apple crushed its Q4 earnings.
Photo: Ste Smith/Cult of Mac

The last Apple earnings report of 2017 is finally here and the results are even better than Wall Street anticipated.

Aided by strong iPhone sales thanks to the launch of the iPhone 8 and iPhone 8 Plus, Apple was able to bring in slightly higher than expected revenues and the company is expecting big things next quarter too.