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Apple beats sales expectations on iPhone, services, China strength – Yahoo News Canada

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By Stephen Nellis

(Reuters) -Apple Inc said on Tuesday that a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecasted slowing revenue growth, sending its shares lower.

Apple executives said revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4% growth rate in the just-ended third quarter. Growth will also slow in Apple’s closely watched services business, they said.

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In a conference call with investors, Apple executives also said that while the impact of the chip shortage was less severe than feared in the third quarter, it will get worse in the fourth, extending to iPhone production.

Shares of Apple, whose valuation has more than doubled in about three years to nearly $2.5 trillion, were down 1.7% to $144.24 in after-hours trading after the call.

Earlier in the day, Apple reported third-quarter sales and profits that beat analyst expectations as consumers bought premium versions of its 5G iPhones and signed up for its subscription services. China sales grew 58% to $14.76 billion in the quarter, which ended June 26.

Driven by the better-than-expected iPhone sales, total revenue hit $81.43 billion, above analyst expectations of $73.30 billion, according to IBES data from Refinitiv. Apple’s profits were $21.74 billion, or $1.30 per share, above estimates of $1.01 per share, according to Refinitiv.

During the investor call, Chief Executive Tim Cook said that chips affected by the shortages are made with older technology but are still needed as supporting parts to make the company’s flagship device, the iPhone.

“We do have some shortages,” Cook said, “where the demand has been so great and so beyond our own expectation that it’s difficult to get the entire set of parts within the lead times that we try to get those.”

Cook declined to predict whether the shortages would last into Apple’s fiscal first quarter, when it typically sees its biggest iPhone sales. Angelo Zino, an analyst with research firm CFRA, said Apple could be stockpiling chips for its next generation of phones to the detriment of current models.

“Apple will want as many chips as it can get its hands on,” Zino said. “But when you couple that with the existing supply constraints, Apple is likely going to have a more difficult time meeting demand this year.”

Apple had told investors last quarter that the chip shortage could hold back sales by $3 billion to $4 billion.

In an interview on Tuesday, Cook told Reuters that the hit to overall revenue in the third quarter was “lower than the low end” of its previously forecasted range.

CHINA, 5G

Apple’s strongest sales growth came from China, where Cook told Reuters that customers are buying up accessories such as the Apple Watch to pair with their iPhones.

“It wasn’t just iPhone. We set a new quarterly record for Mac, for wearables, home and accessories, and for services” in China, Cook said. “It was our strongest geography.”

Upgrading for 5G appeared to be driving a better buying cycle for iPhones than many analysts expected. Apple said iPhone sales were $39.57 billion, up nearly 50% from a year earlier and above analyst expectations of $34 billion.

Cook told Reuters that Apple’s iPhone 12 Pro and 12 Pro Max, the premium tier of the device, were strong sellers. That helped pushed gross margins to 43.3%, above estimates of 41.9%, according to Refinitiv.

On the conference call, he said 5G adoption is in its early stages of deployment in many countries around the world. Some analysts wondered whether that means the boom in 5G iPhone sales won’t last – consumers may buy a phone ahead of time and keep it until the service rolls out. Other analysts believe that means Apple can keep riding the boom.

“The low 5G penetration is a reminder that the best is yet to come for the company’s 5G iPhones,” said Tom Forte, an analyst at D.A. Davidson & Co.

The other major driver of Apple’s results was its services business, which includes paid subscriptions for television and music as well as its App Store. Services revenue reached a record high of $17.49 billion, up by a third from a year earlier and above analyst expectations of $16.33 billion. Cook told Reuters that Apple now has 700 million subscribers on its various platforms, up from 660 million a quarter earlier.

Chief Financial Officer Luca Maestri told investors that services growth will slow, however.

“We expect still-significant growth in services but not to the level that we’ve seen in June,” he said on the call.

Cook said Apple set quarterly sales records in many of its first-party services, including its AppleCare hardware insurance plans, which had slowed somewhat during the pandemic when many of the company’s retail locations were closed.

Sales of iPads and Macs were $7.37 billion and $8.24 billion, compared with analyst expectations of $7.15 billion and $8.07 billion, according to Refinitiv data.

(Reporting by Stephen Nellis in San Francisco and Danielle Kaye in New York and Subrat Patnaik in Bengaluru;Editing by Sonya Hepinstall)

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Huawei's new Kirin 9010 brings minor CPU improvements – GSMArena.com news – GSMArena.com

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Huawei announced the Pura 70 series today, and once again offered no details regarding the chipsets. However, early benchrmarks confirmed they feature a new platform called Kirin 9010, which has an 8-core CPU, identified by apps as 12-core unit due to hyperthreading.

Hyperthreading is nothing new in the chipset industry, as the Taishan cores have been supporting the technology for some time; it has been part of the Kirin 9000s and now is a part of the 9010 as well.

First Geekbench results revealed a minor improvement in raw performance, coming from slightly faster core speeds. The numbers show improvement single digit percentage improvements in both single core and multi core tests.

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Kirin 9000S on Geekbench

Kirin 9010 vs Kirin 9000S on Geekbench

The actual octa-core combination of Kirin 9010 is as follows: one 2.30 GHz Taishan Big, three 2.18 GHz Taishan Mid and four 1.55 GHz Cortex-A510. The GPU remains Maleoon 910 at 750 MHz.

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'Kingdom Come: Deliverance II' Revealed In Epic New Trailer And It Looks Incredible – Forbes

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“You can save the world, or you can help punish it for its sins.” That’s the crux of Warhorse Studio’s “behemoth” of a sequel to 2018’s Kingdom Come: Deliverance. The sequel, which is slated for release later this year on PC, Xbox Series X|S and PS5 will be bigger, more fun, filled with adventure and more diverse thanks to its setting in the 15th century Bohemian city of Kuttenberg a city that creative director Daniel Vavra says is “really big, it’s even too big in my opinion.”

New weapons like the crossbow and primitive firearms will also make their debut in the continued story of the squire Henry (Tom McKay) and the knight he accompanies, Hans Capon (Luke Dale) as they leave the country behind.

Here’s the trailer, which features gameplay, cinematics and discussion from the actors and developers. Be sure to watch until the end to see the bit about the music. A full choir and orchestra in a beautiful Eastern European cathedral? Just gorgeous.

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“What we are making now is what it was supposed to be in the beginning, but we weren’t able to do it because we didn’t have enough resources and experiences and all that stuff,” Vavra says in the video. “We’ve proven the concept works, so now we can take it to another level, which is what we always wanted.”

“This is a behemoth of a game in comparison to the first. In my opinion I think it’s got so much more energy and pace and adventure and action and fun and trial and tribulation and everything you can want,” McKay says in the video.

The game will be “much bigger in scope” with a more in-depth story and a world roughly twice the size of the first. The story has evolved from a small-scale conflict to one about “the problem with kings,” Vavra says.

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Kingdom Come Deliverance II, like the first game, is not a fantasy RPG like Skyrim or The Witcher, but one that attempts to create a historically accurate world down to the weapons, costumes, locations and people. There are no magicians or dragons or elves here—but there will be plenty of adventure, exploration and knight errantry.

Pretty exciting!

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Save $700 Off This 4K Projector at Amazon While You Still Can – CNET

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While it’s true that high-end TVs seem to be getting ever bigger, they still can’t compete with the best projectors when it comes to image size. If you choose a good 4K projector you’ll even get top-notch image quality as well. Right now you can pick one of those projectors up and save a whopping $700 to boot. That’s possible thanks to an Amazon deal that slashes the Xgimi Horizon Pro projector’s price to just $999, a return to its best price ever there. This deal doesn’t require you to enter any pesky codes or clip any coupons, but these kinds of limited-time deals also don’t have a published end date which means that this discount could end at any minute and without warning — be sure to keep that in mind.

The Xgimi Horizon Pro 4K has a ton of features that make it a great option for anyone looking to upgrade their old projector or make the jump from a big-screen TV. The 4K resolution and support for HDR ensure you’ll get a great picture, while the ultra-bright 1,500 ISO lumens mean you won’t find yourself squinting at a dark image. Other features of note include auto keystone correction and an autofocus capability. And we didn’t even get to the fact that this projector can generate a 200-inch image yet, either.

Looking to enjoy content without the hassle of wires? This projector has Android TV built in so you can enjoy any of the more than 5,000 Google Play apps while Chomecast support is built-in as well.

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Alternatively, the Xgimi Halo Plus projector is our top pick for a portable 1080p projector, making it great for camping trips and more — and right now a 23% discount means you can get one for just $650. Finally, the Xgimi MoGo2 is another protector designed to help you want content on the go and now it’s available at almost its best price yet at just $250.

Not sure that a projector is for you but still want to enjoy a great picture? Our list of the best OLED TV deals is just the ticket.



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