Apple returned to its old forecast-busting ways on Wednesday, reporting better-than-expected revenue and iPhone growth. Even though iPad sales underwhelmed, Wall Street cheered the second-quarter results with an 8 per cent spike in after-hours trading. Apple also added $30bn in new dividends and share buybacks to its existing $100bn capital return programme, alongside a seven-for-one stock split.
Tim Bradshaw and Sarah Mishkin bring live commentary from Apple’s conference call and reactions from the market.
In a handy coincidence of scheduling, Apple and Facebook will both report earnings after the market closes on Wednesday.
The two Silicon Valley giants will give Wall Street a fast look at the state of the mobile and online advertising markets, at a time when tech valuations are facing growing questions from investors like David Einhorn. Read more
A cheeky Apple advertisement appeared in several newspapers on Tuesday. Above a vast array of solar panels, it read: “There are some ideas we want every company to copy.”
The ad ran not only during Apple’s latest bout of patent litigation against Samsung, which continues in a San Jose courtroom, but on Earth Day, an annual reminder of our environmental responsibilities.
Apple used Earth Day to launch a new video ad, ‘Better’, narrated by chief executive Tim Cook himself, and a new portion of its website dedicated to its green achievements. These include powering its data centres with 100 per cent renewable energy, as well as 120 of its retail stores.
But perhaps more remarkable is that Mr Cook let Lisa Jackson, Apple’s vice president of environmental initiatives, give an open and sometimes unscripted talk at Stanford University on Tuesday night. Read more
First it was McDonalds and their #McDstories, which became more about animal cruelty than burgers with friends, then it was #AskJPM Q&A session which was cancelled after it became more about mis-selling scandals and trading losses than investment questions.
Now it is the NYPD’s turn to feel Twitter’s wrath. The force tried to use the site to start a conversation, as social media marketers are prone to saying, about the city’s love for the police. But the tag #myNYPD was quickly adopted for far more photos of police brutality than selfies with the cops. Read more