1/Notes from my quick interview with Apple CFO Luca Maestri. A thread:.
“It’s clear to us our products are very relevant to our customers lives and the pandemic has them more relevant than ever before”
“Working from home, online learning — both trends are helpful.”
2/
“We grew revenue in every product category... Records for Mac, wearables, services ... and each geographic segment.”
3/ “What went better than expected for us was iPhones and Wearables. In both cases April was a tough month for us, very much impacted by C19.” May and June saw a resurgence and the iPhone SE proved successful.
4/ Apple said its “installed base” of active devices hit a new record. Mr Maestri declined to give a number but in January Apple said the figure had risen 100m in the prior 12 months to more than 1.5bn devices and more than 900m users.
5/ Apple has announced a 4-1 stock split, first since 2014. Maestri:
“We want to make sure apple stock is accessible to a broad range of investors.... it may be difficult for some retail investors to own a share, so we cut down the price”
6/ No Q4 guidance, why not?
“There isn’t [guidance] because of the uncertainty that we’re seeing.”
Not certain what sort of economic stimulus in the US.
“On the call we will provide some colour on the product categories.”
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