See on Scoop.it – iPad Tablet
2:00pm – $aapl just reported Q4 revs that exceeded estimates, but profits were slightly below expectations. The call is beginning now with a dislcaimer. CEO Tim Cook, CFO Peter Oppenheimer are on the call
2:02pm – Oppenheimer is giving intro remarks. Highest Q4 earnings ever, driven by strong iPhone (up 58%) and iPad (up 26%) sales.
2:03pm – 1% Mac sales growth vs. 8% contraction of PC sales globally. iPod sales 70% of music player sales in US.
2:05pm – $2.1B in iTunes rev – all time record.
2:06pm – Now we’re hearing about the 58% growth of iPhone sales in Q4. Demand for iPhone 5 exceeds supply. Several case studies being given now in business use of the iPhone.
2:09pm – And a recap of the product announcements earlier this week – iPad mini, new iPad, iMac, Mac mini & MacBook Pro
2:11pm – Now some business case studies of iPad & apps. And a recap of the $6.5B cumulative payments to app devs given at Tuesday’s event.
2:12pm – And a short mention of how much effort is going into getting $aapl Maps fixed on iOS
2:13pm – Ave of 374 $aapl stores open worldwide in Q4. 19K visitors per store/per week.
2:14pm – Oppenheimer is discussing expense structure & taxes for the quarter.
2:15pm – Dividend of $2.65 is payable Nov 15 for shareholders on Nov 12. $121.3B in cash after dividend
2:18pm – For the year, $41.7B of income generated by $aapl
2:18pm – Question time
2:19pm – A question about guidance for Q1, meaning a lower EPS YOY. There is one less week in the quarter & lower margins on new products, thus the lower guidance. Gross margin expected to decline by 400 basis points. Anticipating over $50B in sales in the Dec quarter.
2:23pm – This is the first we’re hearing from Tim Cook. He is talking about the commitment to excellence @ $aapl when it comes to their products.
2:24pm – Cook again: talking about the robust demand for iPhone. Output for iPhone has improved significantly since earlier this mo. Confident about ability to supply ‘quite a few’ iPhones.
2:26pm – $aapl still plans to roll out iPhone to 100 countries (some large countries in Dec).
2:28pm – Here’s a question about whether we could see a larger form factor for iPad. Cook says there won’t be a comment about future products, but confident tablet mkt will surpass PC mkt.
2:30pm – How’s the outlook in China? Rev up 78% YOY, Mac up 44%, iPad up 45%, iPhone up 38%. $23.8B rev for China for the year. Represents about 15% of $aapl rev.
2:32pm – Cook: $msft Surface is a compromised, confused product. I suppose you could design a car that flies and floats, but it wouldn’t do all of those things very well. Expects customers to continue to flock to iPad.
2:34pm – Cook: not worried about iPad mini cannibalizing iPad sales. PC buyers would be much better off buying iPad or iMac.
2:35pm – About Apple TV? Q4 sales 1.3M up 100% YOY. Sold more than 5M in FY. Cook: Still has the hobby label, but a beloved hobby. Continue to pull the string to see where it takes us.
2:39pm – iPad sales lower due to K12 mkt purchase seasonality & customers delaying purchases for new products
2:40pm – Another reminder here about comparing Q1 YOY with the extra week in ’11 that’s not in ’12.
2:42pm – How will iPhone 5 rollout occur – touch all 100 countries & backfill or meet supply in key mkts? First 30-40 countries planned. Rollout not a precise science.
2:44pm – And a question about the $329 price point on the iPad mini. The difference b/w iPad mini & competition is profound – much better experience. The iPad mini has higher costs & gross margin below the rest of $aapl product line. Cook: We try to create a product that ppl will love for months & yrs after purchase. That’s what iPad mini has been designed to do. $aapl will not make a product that someone will feel good about at moment of purchase and not use later.
2:47pm – Most of Fortune 500 now deploying iOS. Above 80% penetration in global 500.
2:48pm – Cook: Don’t see a component shortage for iPhone & iPad in Q1. The iMac will have significant component shortages for Q1.
2:51pm – iPad ASPs down YOY, but reflective of price reduction on iPad 2.
2:52pm – Strong US iPhone sales vs. world driven by iPhone 5 launch in US, but not most of the other 99 countries where it will eventually launch
2:54pm – Question about subsidizing hardware cost w/ content sales on iPad. Cook: We think customers are very smart & want a device that will do more. Our focus on making the best product will win at the end of the day.
2:55pm – Cook: there has not been a significant change in our supplier partners. No change in LCD driving any cost. With respect to Samsung, we continue to be a customer and have a commercial relationship.
2:57pm – Analyst refers to Jobs’ comments about making a smaller version of iPad. Cook: Let me be clear. We would not make a 7″ tablet. Not just b/c it is 7″ but for many reasons. The difference b/w the usable area on 7″ and 7.9″ is signficant. iPad mini has ability to run all 275K apps designed for iPad. It’s in a whole different league than 7″ tablets.
3:00pm – Looks like that’s it for today’s call.
01:59 PM
Report: $aapl iMessage service down – link
01:56 PM
$aapl Q4 miss – $36B rev ($35.8B expected), up 21.5% YOY; EPS $8.67 ($8.75 expected), up 18.7% YOY; 29.6M iPhones (up 58% YOY), 14M iPads (up 26% YOY), 4.9M Macs (up 0.7% YOY) sold; Q4 dividend of $2.65; stock down 2% in after hours – Link
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