One billion iPhone devices have officially been sold now since Steve Jobs unveiled the magical smartphone back in 2007, the company revealed today.
Apple CEO Tim Cook made the announcement at a company meeting in Cupertino today that was also attended by COO Jeff Williams and other top Apple executives.
Apple shocked investors with better than expected earnings for Q3 2016 today, despite some ominous signs that some analysts claimed signaled we’ve reached peak Tim Cook.
Thanks to the booming App Store business and other Services, Apple raked in an impressive $42.2 billion in revenue, which Tim Cook says, “was way better than we expected from so many different points of view.”
Here are the most important takeaways from today’s earnings call:
Apple today revealed its results for the third fiscal quarter of 2016, and they make for surprisingly pleasant reading for investors. The company reported revenue of $42.2 billion and quarterly net income of $7.8 billion after App Store sales hit an all-time record.
All eyes are on Apple this afternoon as the company is set to report its Q3 2016 earnings and Wall Street isn’t expecting anything great.
Apple CEO Tim Cook warned in March that the company will post declining revenues compared to a year ago, but with iPhone sales on the decline as customers wait to upgrade to the iPhone 7, the numbers could be a bit lower than investors are hoping for.
Today’s earnings call for Q3 2016 is set to kick off at 2 p.m. Pacific, when analysts from the top firms around the world will have a chance to ask Tim Cook and CFO Luca Maestri whether iPhone sales have finally bottomed out, or if things are still going to get worse before they get better.
Get in on the action below:
Apple is set to reveal its quarterly earnings this afternoon for the third fiscal quarter of 2016 and if the analysts are right, it could be even worse than Apple’s last disastrous quarter.
Investors were advised by Apple during the last earnings call that revenue will likely be down from what it was in the same quarter last year. Apple is hoping it can get a boost from the iPhone SE and the App Store to stay within expectations, however troubles in China and low iPhone demand could hurt the company more than expected.
Here’s what to watch for when Tim Cook and Luca Maestri talk to investors later this afternoon:
Bob Mansfield has been chosen to head up Apple’s “secret” electric car project three years after stepping down from his executive role, according to a new report.
Mansfield was previously in charge of Mac hardware at Apple and led development of products like the MacBook Air, iMac and iPad.
Apple’s product portfolio has expanded quickly since Tim Cook replaced Steve Jobs as CEO, what with the launch of larger iPhones, Apple Watch and the 12-inch Retina MacBook. But are things getting out of hand?
Some fans might argue Apple has too much on its plate, and that other products — particularly its software — are suffering as a result. Others might argue that Apple needs everything in its current lineup — and more! — to keep up with the competition.
So, who’s right? Join us in this week’s Friday Night Fight as we exchange insults and virtual blows over whether Apple desperately needs to streamline its product lineup.
Drivers won’t be hitting the highways in Apple’s self-driving vehicle at all this decade.
Apple has reportedly pushed back the goal launch date of its secretive electric car project that has been in the works since 2014. Previous rumors claimed Project Titan is aiming for an unveiling in 2019, but it may have hit a speed bump.
The first-ever iOS development center in Europe created by Apple is set to open later this year, providing aspiring developers with the practical skills and training necessary to make killer apps.
Apple revealed today that the center will officially be named iOS Developer Academy to be located at Università di Napoli Federico II.
Apple CEO Tim Cook has spent the past few days hanging out with the biggest figures in tech and media during the Sun Valley Idaho conference, but apparently not everyone in town has heard of Tim’s preferred way to pay for coffee.
During a visit to a local coffee shop, Cook reportedly tried to use Apple Pay which allows iPhone and Apple Watch owners to make transactions wirelessly. Even though the tech debuted two years ago, Tim ran into a roadblock when he busted out his iPhone to take care of the check.
Tim Cook isn’t the only Apple executive who’s willing to have lunch with fans in an effort to raise money for charity. Bozoma Saint John, chief of global consumer marketing for Apple Music and iTunes, is auctioning off a “power lunch” in aid of the Rush Philanthropic Arts Foundation.
Apple CEO Tim Cook has made his annual pilgrimage to Sun Valley, Idaho, to gather with other leaders who run the world’s tech and media empires.
This is the fourth year in a row that Cook has made an appearance at the exclusive conference, which attracts dozens of industry bigwigs like Disney CEO Bob Iger, Twitter’s Jack Dorsey, CBS CEO Leslie Moonves, HP CEO Meg Whitman and Facbook’s Mark Zuckerberg.
As part of Apple’s ongoing mission to be a “force for good” in the world, the company is encouraging iPhone users to register as organ donors, courtesy of an upcoming software update for its Health app.
Apple CEO Tim Cook is moving up in the world of Nike, where he’s been serving as a member of the board of directors.
Nike revealed that starting today, Cook will be the lead independent board member at the athletic apparel company, which is undergoing some big leadership changes.
Cold hard cash, and a surprising amount of creative input from top Apple executives, are key to Cupertino’s plan for making Apple Music a hit, according to a new behind-the-scenes report about the streaming service.
U.S House of Representatives Minority Leader Nancy Pelosi took shots at Apple CEO Tim Cook for participating in a GOP fundraiser in Silicon Valley this week.
Pelosi, who represents the nearby 12th district of California, called Cook “naive” for helping House Speaker Paul Ryan raise money for her rivals in the GOP, especially after the company just broke off its support for the GOP convention.
Apple has scheduled its next earnings call for Tuesday, July 26, at 2 p.m. Pacific. The call, which will be broadcast live, will cover the company’s third fiscal quarter results following the first-ever decline in iPhone sales last quarter.
Apple once again showed its support for gay rights over the weekend by participating in San Francisco’s LGBT Pride festival. Numerous Apple employees, including Tim Cook, took part — and Apple even distributed custom limited edition rainbow Apple Watch bands to people on the Cupertino payroll who registered for the event.
On June 22, 2015, Apple backed down following a brief standoff with Taylor Swift over royalty payments from the soon-to-launch Apple Music service. The company reversed a policy that would have denied royalties to artists during the streaming music platform’s initial three months of operation.
In doing so, Cupertino signaled that this was a kinder, gentler Apple than may have existed previously. Provided the whole thing wasn’t one big publicity stunt, that is.
Apple is boycotting the Republican National Convention this year due to Donald Trump being the party’s presumed nominee, but CEO Tim Cook actually wants to strengthen ties with the GOP.
Cook reportedly plans to host a fundraiser for House Speaker Paul Ryan next week as part of the Apple’s effort to court Republican lawmakers.
Apple’s recent Apps for Earth campaign with the World Wildlife Fund has raised more than $8 million to support the organization’s conservation work. The campaign also raised awareness among hundreds of millions of people, Apple says.
Apple is finally dropping the ban hammer on HTTP.
As part of its overall efforts to increase security on iOS, Apple revealed to developers at WWDC that it will soon force all apps to use a secure HTTPS connection to access web service, so that users’ data stays encrypted while in transit.
Apple’s WWDC keynote just kicked off this morning, but before Tim Cook dove into Apple’s exciting new software updates, the Apple CEO called for a moment of silence in respect for the victims of the Orlando tragedy.
Nerds rejoice. WWDC is finally here!
Apple’s annual developer conference is set to get underway in just a few hours. The company is expected to unveil the future of iOS, OS X, Apple Watch, Siri and much more in what is expected to be one of the most action-packed keynotes we’ve seen in years.
Cult of Mac will be liveblogging all the action of today’s events right here and we won’t stop until every last morsel of info has been dished out by Tim Cook and the rest of Apple’s team. If you’re not sure what to expect from today’s keynote, take a look at this quick refresher — “Everything to expect from Apple’s jam-packed WWDC 2016 keynote” — and then join us for our WWDC liveblog below. The keynote starts Monday at 10 a.m. Pacific.
Tim Cook’s approval rating among Apple employees continues to be one of the best for CEOs in the U.S. according to a new survey from Glassdoor.
Cook moved up two spots this year in the site’s annual Employee Choice awards, becoming the eighth-highest-rated CEO in terms of approval ratings from anonymous employees. Other notable tech CEOs included in the top 10 include Mark Zuckerberg, Sundar Pichai and Marc Benioff.
Here’s the full rankings: