Apple dominates tech market as anticipation builds for iPhone 6
By Catholic Online (NEWS CONSORTIUM)
7/23/2014 (3 years ago)
Catholic Online (www.catholic.org)
Apple continues to do well in the market, as the company's flagship product, the iPhone, gained significant traction since March, and the Mac line of desktop computers also saw growth.
The iPhone 6, expected to be released in September, is highly anticipated, and may be responsible for the slight increase in sales of iPhones.
LOS ANGELES, CA (Catholic Online) - Apple sold 35.2 million iPhones over the last three months, up 13% from the same period last year, and Mac was up 18% with 4.4 million units sold.
For Apple, iPad did not sell as well, down 9% with 13.2 million units sold over the last quarter, and the news that customers are buying cheaper iPads-such as the iPad mini-has also hurt the bottom line.
Apple's CEO Tim Cook blamed "market softness" in a few parts of the world, but he did sound hopeful that turnaround might come from Apple's recently announced deal with IBM, effective later in 2014.
Cook said that tablets have not caught on in an office setting, and he hoped that the deal with IBM would change that.
"We think our partnership with IBM will be one such catalyst for future iPad growth," Cook said. "We're very bullish about the tablet market."
Apple's profits grew 12% to $7.7 billion, or $1.28 per share, during the fiscal third quarter which ended in June. Apple's earnings per share was also up slightly because of the company's continual stock buyback program, which has lowered the amount of shares held by investors by about 7% since last year.
The company posted $37.4 billion in revenue, up 6%, and the company's profits exceeded Wall Street expectations. For this quarter, Apple is expecting sales between $37 billion and $40 billion.
All eyes are also on the company for the next few months, for the expected September release of the iPhone 6, and many are expecting that many customers are holding out purchasing iPhones in anticipation of it.
Copyright 2018 - Distributed by THE CALIFORNIA NETWORK
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