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Apple sales beat driven by Macs and Watches, CEO 'optimistic' about 5G iPhone sales – Reuters

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(Reuters) – The late launch of new 5G phones caused Apple Inc’s AAPL.O customers to put off buying new devices, leading the company on Thursday to report the steepest quarterly drop in iPhone sales in two years.

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Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, U.S., August 1, 2018. REUTERS/Lucas Jackson/Files

Apple fell over 5% at one point in after-hours trade, wiping $100 billion from its stock market value.

Since 2013, Apple has delivered new iPhones each September like clockwork. But pandemic-induced delays pushed the announcement back a month, with some devices still yet to ship.

Even as booming sales of Macs and AirPods boosted overall revenue and profit above what analysts had expected, iPhone sales dropped 20.7% to $26.4 billion. (Graphic: tmsnrt.rs/3ecmgCG)

Investors anticipated lower sales from the Cupertino, California company’s bestselling product, but the hold-back was worse than expected, especially in China, where more consumers have access to 5G than in the United States or Europe.

Apple has mostly beaten sales expectations this year and released a slew of new products and services that its customers have embraced while largely homebound during the pandemic.

Apple said revenue and profits for the fiscal fourth quarter ended on Sept. 26 was $64.7 billion and 73 cents per share, compared with analyst estimates of $63.7 billion and 70 cents per share, according to IBES data from Refinitiv.

But the flagship iPhone 12’s announcement was delayed until Oct. 13, several weeks later than usual, meaning no opening-weekend iPhone sales are included in the fourth-quarter results.

In an interview with Reuters, Apple Chief Executive Tim Cook said that he was “optimistic” about the iPhone 12 cycle based on the first five days of shipping data.

“5G is a once-in-a-decade kind of opportunity. And we could not be more excited to hit the market exactly when we did,” Cook said. “At least in the U.S., the carriers are being very aggressive.”

The iPhone 12 release timing drove down sales in Greater China by 28.5% to $7.95 billion. Cook said he expects the new 5G devices to help iPhone sales recover in China.

“What we’re seeing in the early going in the first five days gives us a lot of confidence that China will return to growth in our fiscal Q1,” Cook told Reuters.

Apple did not provide a revenue growth forecast, but Chief Financial Officer Luca Maestri said revenue from services and non-iPhone products would grow by double-digit percentages in the fiscal first quarter, in line with analyst expectations. He said iPhone revenue would also grow, implying the rate would be in the single digits. Analysts expect iPhone revenue to rise 6.45% to $59.56 billion in the first quarter, according to Refinitiv data.

Logan Purk, an analyst with Edward Jones, said that “while iPhone sales will grow this cycle, it will be disappointing compared to elevated expectations, as we do not believe the 5G presents a compelling reason for a wave of upgrades.”

Apple has offset volatile iPhone sales in recent years with steady growth in its services segment, which includes streaming music and television. Services revenue rose 16.3% to $14.5 billion, compared with analyst estimates of $14 billion. Cook told Reuters that Apple One, a bundle of Apple’s paid services, will launch on Friday.

Cook told Reuters that Apple has 585 million paying subscribers across its platforms, up from 550 million the previous quarter and closer to the goal of 600 million subscribers that the company set out for the end of calendar 2020.

Apple’s shares have soared in the past two years as it has diversified its revenue streams to lessen its dependence on the iPhone. The share tumble on Thursday raises the question of whether Apple is still more dependent on iPhone sales than some investors had hoped.

“Apple needs to be able to keep the upgrade cycle going or the share price will wobble because there’s no real room for forgiveness in the current valuation,” said Sophie Lund-Yates, an equity analyst at Hargreaves Lansdown.

Apple said revenue from its accessories segment was up 20.8% to $7.9 billion, compared with analyst estimates of a 13.5% rise to $7.4 billion, according to Refinitiv data. Mac and iPad sales rose to $9.0 billion and $6.8 billion, compared with estimates of $7.92 billion and $6.12 billion, according to Refinitiv data.

Reporting by Stephen Nellis in San Franicsco; Additional reporting by Noel Randewich; Editing by Lisa Shumaker

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The Ultimate Recap of Sea Otter 2024 – Pinkbike.com

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Vittoria Releases New Peyote & Mezcal XC Race Tires
Maxxis Team Spec Aspen ST Tire
New DT Swiss 240 DEG Hubs
Kali Protectives’ New Full Face Helmets
Industry Nine’s SOLiX M Hubs & Wheelsets
Michelin’s Aggressive New Wild Enduro Tires
Praxis’ New Flat Pedals, Stem, & Carbon Bottle Cage
Transmission Cage Upgrades from Kogel, Ceramicspeed, and Cascade Components
Randoms Round 1 – Sea Otter 2024
Madrone Cycles’ SRAM Eagle Repair Kits & Prototype Derailleur
Vorsprung’s New Telum Coil Shock
EXT’s Vaia Inverted DH Fork & Updated Coil Shocks
Randoms Round 2: New Tools, Goggles, Grips, Racks, & More – Sea Otter 2024
What’s New in Women’s MTB Apparel at Sea Otter 2024
Even More Randoms – Sea Otter 2024
Randoms Round 3: Dario’s Treasures
What’s New for the Kids at Sea Otter 2024
Deity Releases New Stems, Grips, & Pedals
Dario’s Final Sea Otter Randoms
Brian’s Randoms from Sea Otter 2024

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With roots dating back to 1991, the Sea Otter Classic is one of the biggest biking events and tradeshows each year and brings together all sides of the biking industry from athletes to brands, spectators and consumers. Taking place in April in the sunny hills of Monterey, California, that means this event really feels like the official start to the biking season in North America. Christina Chappetta covers why it’s much different to an indoor European biking tradeshow, a World Cup racing weekend or even Crankworx mountain bike festival, in that it encompasses nearly ALL of the biking disciplines, including road cycling, enduro, downhill, dual slalom, XC, trials riding and more.

In the past fortnight, we have seen large amount of new tech releases. However, Sea Otter 2024 represents some of the first opportunities for many riders to see these things in the flesh, as well as take a deeper dive into what the product aims to do.
Welcome to a video summary from Day 2 of the Sea Otter Classic.
There are so many giveaways, interesting new products and colourful characters at Sea Otter Classic that it’s hard to stand out from the crowd. Ben Cathro takes a lap of the venue to find his favourites.



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Apple iPad Air 2024: Insider Makes Hasty U-Turn On New Feature – Forbes

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Well, that was quick. On May 18, a respected industry insider predicted a new display technology for the iPad Air that’s expected in the coming days—Apple just announced its latest special event.

The new 12.9-inch iPad Air, the report claimed, would have the same miniLED backlighting currently found on the larger iPad Pro, using the leftover inventory from the current Pro as that model switches to OLED. That was exciting news.

But now, Ross Young, the analyst who made the claim, has changed his mind. The new prediction, shared with paid subscribers only, is that the miniLED technology won’t be coming to the iPad Air, in either size.

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While it made sense that the inventory could be maximized in this way, it now “makes sense” that it won’t.

Young says that while he’d heard from supply chain sources that it would, he’d now had contact from “even more supply chain sources” that it won’t.

And the reason this change of heart now makes sense is that this miniLED technology is expensive, so it would be surprising if it made it to the iPad Air, which is more affordable than the Pro.

That’s not quite all the analyst shared. He also said that there are now reports of a new iPad coming later in the year. This is a 12.9-inch iPad, with miniLED backlighting and it could arrive between October and December this year.

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This is intriguing. What could it be? Assuming that the iPad Pro and iPad Air are released in May, it’s extremely unlikely either will be updated later in the year. And if the iPad Air isn’t pricey enough for miniLED to be included, what tablet could Apple be introducing that is the same size as the bigger Pro, with a pricey screen tech, which would sit between the Air and the Pro, it seems?

Young is highly reliable, but this seems slightly preposterous to me. The only other iPad in the range due a refresh is the regular iPad (at 12.9-inches, the iPad mini is clearly out of the picture) and that doesn’t seem likely either.

It seems to me that any regular iPad will almost certainly have the same screen size as now, 10.9 inches. The regular iPad only grew to this size screen in the current generation, and Apple almost never changes designs after one iteration.

Perhaps things will become clearer as the year goes on.

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Woman who left beaten dad on floor for 2 days was 'overwhelmed' with his care, judge told – CBC.ca

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A Calgary woman who abused her sick, 77-year-old father was “overwhelmed” at the task of caring for him, a judge heard Wednesday at a sentencing hearing. 

In January, Tara Picard, 52, pleaded guilty to charges of assault and failing to provide the necessaries of life after her father (whom CBC News is not naming) was found injured on a basement floor, where he’d been lying for two days. 

On Wednesday, prosecutor Donna Spaner and defence lawyer Shaun Leochko asked the judge to allow Picard to serve her sentence in the community under conditions as part of a conditional sentence order.

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Justice Indra Maharaj agreed to a two-year conditional sentence for Picard followed by a year of probation. 

“There is no doubt she became overwhelmed,” said Spaner in her submissions. “There is no question Ms. Picard has remorse.”

Leochko told the judge that caring for her father “was really more than [Picard] could handle.”

Maharaj heard that Picard is Indigenous and was the victim of abuse growing up. She lives in a sober dorm-style facility and is working with a mental health and addictions navigator, according to Leochko.

A ‘willingness to give back’

As part of the sentence, Picard must complete 300 hours of community service. 

Justice Maharaj commended Picard for “taking that on.”

“That shows me Ms. Picard sincerely does recognize what has happened here,” said the judge. 

“What I interpret from that is Ms. Picard’s willingness to give back to her community.”

During Picard’s plea, court heard that in November 2021, Picard and her father fought over his drinking. 

Nurses discover victim

The victim suffers from a number of medical issues, including diabetes, heart disease, dementia and alcoholism.

At the time, home-care registered nurses were assigned to help provide supplementary care.

Nurses found the victim wearing a soiled adult diaper and suffering from two black eyes with blood on his head. 

He told the nurses who discovered him that he’d been there for two days. 

Picard admitted she knew her father had fallen and she had “administered a number of physical blows.”

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