Even without any new iPhones, Apple (NASDAQ:AAPL) just reported a slew of records in its fiscal fourth-quarter earnings release yesterday. The iPhone 12 and 12 Pro were unveiled earlier this month, after the Mac maker had already closed the books on the quarter, but strength across other parts of the business helped partially offset the decline in iPhone revenue.
Here’s everything you need to know about Apple’s Q4 results.
Every non-iPhone segment crushed it
Revenue came in at $64.7 billion, a cool $1 billion ahead of the consensus estimate. That translated into net income of $12.7 billion, or $0.73 per share, topping the $0.70 per share in profits that Wall Street was expecting. Remember that Apple did a 4-for-1 split in August, which is why that EPS figure may look light.
As expected, iPhone revenue declined by over 20% to $26.4 billion as customers anxiously awaited the new models. The wholesale shift to remote work and learning has driven a broad boom in demand for laptops and tablets, which pushed Mac and iPad revenue to all-time records. Mac revenue was $9 billion while iPad revenue was $6.8 billion, despite the Cupertino tech giant facing supply constraints for virtually all major products, an imbalance that persists to this day and now includes the new iPhones.
Services revenue hit a new record at $14.5 billion, and that segment has now generated $54.8 billion in trailing-12-month (TTM) sales. In other words, Apple has handily beat the goal of doubling services revenue it laid out so many years ago. There are now 585 million paid subscriptions being billed through the company’s various platforms, putting another goal set by CFO Luca Maestri earlier this year — hitting 600 million paid subscriptions by the end of 2020 — within easy reach.
As part of Apple’s ongoing efforts to shift attention away from plateauing iPhone sales, it has been highlighting revenue growth excluding the iPhone in recent years. This figure has been accelerating quite well, hitting 25% last quarter.
The iPhone installed base has hit a new all-time high, although management did not disclose a specific figure. Independent analyst Neil Cybart recently estimated that iPhone users have reached 1 billion. Fiscal 2020 was a record year with revenue of $274.5 billion.
Giving cash back
Apple repurchased $18 billion worth of stock during the quarter, bringing full-year buybacks to an astounding $72.5 billion. Total cash was $191.8 billion, and factoring in $112.4 billion in debt brings net cash to $79.4 billion. Slowly but surely, the company continues to make progress on the “net cash neutral” goal that Maestri set back in early 2018.
The board has authorized a quarterly dividend of $0.205 per share, which will be payable to shareholders of record as of Nov. 9.
Maestri stopped providing specific financial guidance earlier this year due to all of the ongoing macroeconomic uncertainty related to the pandemic but did offer some commentary. Of course, iPhone revenue will soar next quarter, even though the new iPhone 12 lineup is launching meaningfully later than in prior years due to coronavirus-related delays that have impacted the supply chain.
All other products and the services business are expected to grow by double-digit percentages. Gross margin should be roughly flat, as the seasonal operating leverage that Apple typically enjoys over the holidays is offset by the heightened costs that are normally associated with new product launches. Fortunately, foreign exchange headwinds have mitigated, so Maestri doesn’t expect currency fluctuations to be a major issue.
CEO Tim Cook said Apple is working as hard as it can to overcome supply constraints. That will be critical to the company’s execution in the weeks ahead, which will include the launch of iPhone 12 Mini, iPhone 12 Pro Max, and potentially even more products that have been rumored, like AirTags or an Arm-based Mac.
PS5 owners are exploiting a loophole to sell the PS Plus Collection to PS4 owners – Eurogamer.net
Back door compat.
PlayStation 5 owners are exploiting a loophole to sell the PlayStation Plus Collection to PlayStation 4 owners, it has emerged.
PS Plus subscribers who own a PS5 get the eye-catching PS Plus Collection as a bonus. It’s a new curated series of 20 PS4 games that are available for digital download. The list includes some big hitters, such as Bloodborne, Days Gone, God of War and Uncharted 4.
As VGC reports, it didn’t take long for PS5 owners to discover and exploit a loophole that lets them log into a PS4 owner’s account on their PS5, which in turn unlocks the Collection games for use on the PS4.
And, perhaps inevitably, PS5 owners are selling this unlock “service” on auction sites. One listing on eBay offers the unlock for $30. “For people who want access to the games and only have a PS4 and no access to a PS5,” reads the ad description. “I’ll login with my PS5 with your details, add the games and deactivate. Upon purchase I highly advise creating a temporary password and then creating a new one when it’s done.”
There are similar listings on Canadian site kijiji as well as Craigslist, all varying in price. “If you need these games but you don’t have a PS5, I can help,” one listing reads.
One person reportedly made over £100 charging over 20 people a fiver each to unlock the PS Plus Collection on their PS4. This is, of course, not how Sony intended the PS Plus Collection to be used, and there are now reports bans have kicked in – possibly automated as an account theft and sale prevention measure. One Twitter user based in Hong Kong claimed thousands of PSN accounts have been banned in the region for this very reason.
Thousands of PSN accounts have been banned, and according to community discussions, these accounts are concentrated in HK(@PlayStationHK ), and have in common the receipt of Sony’s PS Collection service for PS Plus, which contains serveral PS4 games for free. pic.twitter.com/ECWPRgVuO2
— ??? (@zhihuwong) November 26, 2020
Now, some PS5 users who have shared their PS Plus Collection with a single friend, for example, have expressed concern they may be caught up in a banwave. Sony has yet to comment.
Apple's Black Friday iPhone SE sale essentially makes the price $290 – iMore
My significant other just bought the 2020 iPhone SE today, which happens to include a $50 Apple Gift Card between now and November 30. Any new eligible device purchase at Apple also comes with a year of Apple TV+ for free. When you consider these two big value additions, you’re sort of getting the 2020 iPhone SE for less than $300.
The discount goes even deeper if you have an eligible phone to trade-in. You can get $30, at the very least, for your old iPhone, or Pixel and other Android phones. If you’re upgrading from the original iPhone SE to the 2020 model, for example, you can get an extra $30 off. If you’re getting rid of an iPhone 7, you could get up to $100 off. Depending on what phone you trade-in, you might even be able to make an actual profit from buying a new iPhone SE (you know … because you still get a $50 gift card and a year of TV+ for free).
The iPhone SE is an incredible buy. It’s thin, light, and has Touch ID, which is way more convenient right now during this pandemic where face masks are required when you leave your house. It has a 4.7-inch screen, a water resistance rating of 1 meter for up to 30 minutes, and has a battery life of up to 13 hours of video playback.
The iPhone SE came out early this year and features Apple’s custom A13 processor chip, which is powerful and efficient even though Apple has already pushed out the A14 processor chip. The speed bump isn’t really even noticable.
The iPhone SE doesn’t have everything the iPhone 12 does, but I can tell you that it’s an incredible iPhone for the price.
I switched from the iPhone 11 Pro to the iPhone SE when it first came out and would still be using the iPhone SE today if it weren’t for the fact that I fell in love with the smaller iPhone 12 mini.
In fact, the reason my partner just bought the iPhone SE is that I recommended it. I think it’s the absolute best phone you can get at that price, and with a $50 Apple gift card and $60 off a year of Apple TV+, this is an unbeatable Black Friday Apple deal.
More Black Friday deals:
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This never happens, but Apple AirPods are currently on sale during Amazon Canada's Black Friday sale – Yahoo Canada Shine On
Yahoo Lifestyle Canada is committed to finding you the best products at the best prices. We may receive a share from purchases made via links on this page. Pricing and availability are subject to change.
Often imitated but never duplicated – Apple AirPods are one of the most popular tech accessories of the year. For those who haven’t made the switch to the wireless and rechargeable ear buds, what are you waiting for? The Apple AirPods and Wireless Charging Case, which rarely go on sale, are currently marked down for 15 per cent off during Amazon Canada’s massive Black Friday sale.
SHOP IT: Amazon, $230 (originally $269)
What are they?
Apple AirPods are the wireless alternative to headphones that pair easily with your Apple device without compromising sound quality or performance.
Your AirPod wireless charging case holds multiple full charges for your ear buds and has more than 24 hours of battery life. Each charge delivers up to five hours of play time and three hours of talk time; when not in use, should be kept in the charging case to ensure you never miss a call, a podcast or a song.
Since the AirPods are paired to your iOS device (like your iPad, iPhone or MacBook) you’ll receive a push notification when your battery is running low. When your charging case battery pack is low, simply connect the case to a power source using the included Lightening cord.
What other people are saying
Apple AirPods have an impressive 4.8-star rating on Amazon based on more than 32,400 customer reviews. Shoppers have commended AirPods on their universal fit and ability to access to Siri.
“I have been using various wireless & bluetooth products for a while. I got these yesterday and they are amazing. They automatically turn on the second you pull them out of the case. By the time they are in your ear, they are connected to my iPhone and are ready to use. In my iPhone, I can configure each ear to do a specific task right in the phone settings without any special software,” one shopper wrote. “I double tap my left ear and I activate Siri and I can double tap my right ear to play/pause whatever I am listening or watching. I went on a walk and there was a light breeze. I called someone on the phone to see how the noise cancellation was and they couldn’t hear the wind.”
Although there are more affordable options available, the Apple AirPods offer superior sound quality and ease of use for Apple product users.
“Some folks think that if you’re sporting Apple’s wireless earbuds, you are just trying to ‘look cool’. While you will look awesome with these bad boys, that’s not the reason to buy them,” another Amazon shopper said. “They are the high-quality type of product you’d expect from Apple. Even though they’re very lightweight and feel like they could fly out of your ears at any second, they are surprisingly sturdy and have yet to come out uninvited (unless you forget to take them out whilst taking off a shirt)….They last a good little bit but never fear those long uses… Here’s a quick battery warning: if you do not return the buds to the charger, they will die. The case, however, can recharge them for several different uses. I probably use them at least 3-4 hours a day and can get through almost the entire week without recharging the case. This model has the wireless charging capability as well, so if you’re down with that tech, you’re set.”
If you’re a loyal Apple product user, you’ll probably enjoy the benefits of wireless ear buds that allow you to easily pair with multiple devices with ease.
We’ve gathered more Apple AirPod products you can buy now on sale — but hurry, this won’t last forever.
Choose from three sizes of silicone tips for added comfort and enjoy Active Noise Cancellation as well as Transparency mode with these waterproof AirPods.
SHOP IT: $268 (originally $239)
Ensure that your AirPods are always fully charged with this handy replacement case.
SHOP IT: $80 (originally $99)
The reviews quoted above reflect the most recent versions at the time of publication.
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