No guidance from Apple for current quarter. Thread:

“We really didn’t feel there was enough visibility and certainty to provide guidance and frankly we didn’t want to do something that didn’t have much value for investors,” finance chief Luca Maestri told the Financial Times.
2. Earnings in March were hampered by “downward pressure” that extended into the first half of April, but in the last two weeks “we’ve actually seen an uptick”, Mr Maestri added, attributing the growth to the new iPhone SE and updates for the iPad and MacBook Air.
“I think people are starting to get more adjusted to the new reality that Covid-19 is not going away any time soon and so they are trying to adjust their spending patterns as well,” he said.
In particular iPad and Mac sales are expected to improve in the current quarter from a year ago thanks to online learning and people working from home. “So we are going to see some advantages there,” Mr Maestri said.

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More from @PatrickMcGee_

Mar 29
🚨Scoop in @FT 🚨

Millions of American and European smartphone users are unknowingly sending user, device and IP address information to servers in Russia.

From there, researchers worry it might be accessed by the Kremlin.

Wait whhaaaat???

*Tweet thread follows*
Here's how this is happening: Yandex - aka Russia's Google - has embedded "free and unlimited" coding software into tens of thousands of apps, which collects user data and stores is in servers in Finland and Russia. Yandex confirms this, but says it's not used for surveillance.
The software coding is a 'software development kit,' or SDK. Think of SDKs as the building blocks of apps.

A majority of apps use Google SDKs, for instance, to avoid building mapping tools or advertising tech from scratch.
Read 10 tweets
Oct 31, 2021
*New*: @Apple’s privacy settings caused an estimated $9.85bn of revenues to evaporate in the second half of this year at @Snap, @Facebook, @Twitter and @YouTube, as their advertising businesses were shaken by the new rules

Average impact on revenue: -12%

*Thread*
Lost revenues will extend into the next quarters as the advertising groups rebuild using a privacy-centric paradigm.

“New tools and frameworks need to be developed from scratch and tested extensively before being deployed to a high number of users,” says @eric_seufert
.@apple, meanwhile, reported a “record” quarter for its advertising business on Thursday, as its services segment beat revenue estimates by $700m to reach $18.3bn.

Full story: on.ft.com/3bs7XsV @FT
Read 4 tweets
Oct 28, 2021
A bunch of stats on @Apple earnings:

Finance chief Luca Maestri tells the @FT that supply constraints cost the group $6bn last quarter.

"components shortage" and "manufacturing disruptions in Southeast Asia caused by Covid," he said.

*Thread*
No guide for Q1 but Maestri says “demand is very, very strong”.

"We expect to set a December quarter record in spite of the fact that these supply constraints - the way we see them right now - **we believe they're going to be greater than the September quarter, the $6bn**.”
Q4 Revenues were slightly below forecasts and Apple shares fell 5% on the results.

Not a big miss but in prior 3 quarters Apple blew away forecasts.
Read 7 tweets
Oct 22, 2021
An *enormous thread* on alleged @Google @Facebook collusion based on the just-released *unredacted* complaint from the Texas AG. First filed December.

Anything PURPLE is newly unredacted.

Yellow/Orange is just normal highlights.

1/?
Online advertising is enormous. Google's Exchange process processes 11bn online ad spaces / day.

Google says "more daily transactions are made on AdX than on the NYSE and NASDAQ combined."
Google also owns the largest buy-side and sell-side brokers. "It is pitcher, batter, and umpire, all at the same time," says complaint.

Senior GOOG employee: “[t]he analogy would be if Goldman or Citibank owned the NYSE.”
More to the point -- if NYSE was the only stock exchange Image
Read 45 tweets
Oct 21, 2021
First Snap question is about Apple.... Wants to know if it'll take a quarter, multiple quarters or years to set a new-normal:

"This has definitely been a frustrating setback for us," @evanspiegel says.

1/?
"With these new Apple changes, those tools were essentially rendered blind," @evanspiegel says. "You can only really measure your advertising results using the success parameters that Apple's already defined. The reporting is delayed for a significant period of time ...
and (it's) often unavailable if you don't hit a certain threshold of conversion. Very hard to see performance on a creative level...

So what we've done is built our own solution called Advanced Conversions that allows people to do much more sophisticated things.
Read 4 tweets
Oct 21, 2021
*Breaking* @Snap blames @Apple privacy changes for Q3 earnings miss and says Q4 revenues will come in between $1.16bn and $1.2bn, versus consensus estimate of $1.4bn.

*a Thread*
Chief executive Evan Spiegel says: "the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our advertising partners to measure and manage their ad campaigns for iOS."
Snap chief of business Jeremi Gorman dismissed Apple's tool (SKAdNetwork), calling it "unreliable as a standalone measurement solution." He said measurements "diverge meaningfully from the results we observed on (other measurement solutions)."
Read 10 tweets

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