Apple reported quarterly revenue of $75.9 billion and quarterly net income of $18.4 billion in the fiscal year 2016 first quarter, thanks in part to its record-breaking iPhone, Apple Watch and Apple TV sales. Here are the details.
AT&T CEO Randall Stevenson said Congress should determine U.S. policies regarding encryption rather than tech companies, The Wall Street Journal reported. Stevenson, speaking at the World Economic Forum in Davos, Switzerland, broke stride with Apple CEO Tim Cook, who has repeatedly objected to criticism of the encryption being used in iPhones.
Apple CEO Tim Cook met Margrethe Vestager, the European Commission's (EC's) competition commissioner, to discuss an ongoing probe into the U.S. company's tax arrangements in the region.
Apple said it sold 48.046 million iPhones during its most recent quarter, a slight improvement over the 47.534 million it sold in the previous quarter and way up from the 39.272 million it sold in the same quarter last year. Wall Street analysts had expected Apple to report sales of 48.5 million iPhones. Apple said it scored around $32 billion in revenues from its iPhone business.
Apple will report its quarterly earnings tomorrow and although the performance of the new iPhone 6s and 6s Plus will be a key focus, analysts and investors are likely going to be looking for what the company's top executives have to say about the coming holiday quarter to get a true sense of the phones' selling potential.
Speaking today at a Box corporate event, Apple CEO Tim Cook said the company doesn't have any plans to integrate its two main operating systems, Mac and iOS. "These operating systems do different things. We have no intention to blend them," he said, according to Re/code.
Apple CEO Tim Cook said that the company may eventually let iPhone customers delete applications Apple places on the phones by default, like Compass, Stocks, Podcasts and Tips.
Apple introduced a new version of its Apple TV device that offers voice-recognition functions, unified video search across Netflix, Hulu and other services, as well as an app store that will allow users to download games and other apps. However, absent from Apple's announcement was any mention of offering live TV services or access into pay-TV options. Apple reportedly had been in discussions with the likes of NBC, ABC and CBS to offer a package of TV services on its TV device, but recent reports have indicated that those discussions are ongoing and that Apple would not launch a streaming video service until sometime next year.
Markets all over the world are coping with sympathy pain following the steep decline of China's stock exchange, but Apple CEO Tim Cook said he's not worried about his company's long-term business prospects in China.
Apple CEO Tim Cook indicated that he has confidence in the company's business in China, especially its iPhone sales, despite investors' fears about slowing economic growth in the world's largest smartphone market that have sent stock markets around the globe spiraling downward.